First we had the updated Hulbert Gold Newsletter Writer Sentiment Index getting contrarian bullish: Good News Goldbugs
And then we had further improvement in the gold and silver CoT data, just released.
Despite the nominal technicals on the metals, which say they can decline a little lower (Au 1620’s and Ag 27-28), we are now on a contrarian bullish play when the above sentiment and CoT data are combined with a still-constructive HUI-Gold Ratio.
NFTRH is now bullish on a risk vs. reward basis, which does not mean I am not expecting lower prices in the short-term but rather, that the upside potential now greatly outweighs the downside potential in my opinion.
This applies to both metals and the highest quality mining and royalty stocks.