Back on June 6th we had a post showing Royal Gold’s bullish daily, weekly and monthly charts.
Today, nothing has changed other than they have gotten bullisher. The daily chart shows a pop to a new high for the rally out of February, as it pops from the latest consolidation ‘handle’.
Per the post linked above…
Dialing out to a weekly view you can see that this handle is just part of a breakout from a larger handle from 2017, which itself came after a rise from an even larger handle from 2016.
A new high for the cycle that began in Q1 2016 is finally at hand.
And incredibly, RGLD has just ticked an all-time high, by the monthly chart.
Royalty companies do not incur the same cost burdens as the miners with which they contract. But the strength in this gold sector leader is telling us something, like maybe the low risk vs. reward shaping up in the precious metals? Eh, Bueller? There is a lot more to that thesis than these 3 charts, as reviewed in NFTRH 506.
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