It was a strange one. Gold closed down a bit, while silver closed up, but the price of nearly all the miners all closed up! This is a very positive, and bullish, development. Let’s go right to the charts to see what they might tell us.
I first see gainers on average volume, as with: PAAS,
Others that rose on better than average volume were: HL and SLW.
Still others rose on light volume: RGLD, SSRI, SLV, SGDM, PVG, SILJ, GDX, SGDJ, CDE, FSM, AG.
We saw gold decline, with ETF, GLD, on light volume, as did ABX.
It was another upward day in price, but on low volume, as the average for all the symbols was off 35%. So, while the metals didn’t perform particularly well, the miners still did. This is a positive development, and we need to continue to watch and be careful, as conviction has yet to come to this market.
Here’s to your accumulation of real wealth!
Harold F Crowell