You were of course prepared for it because you have a functioning brain that learns from history; and it doesn’t hurt that you read this site. ;-)
We noted the bullish headlines last week, including some usual gold sector suspects that had been guiding bearish but had flipped bullish. Oops…
2020 Opens With a Gold Bug 180°
You knew that based on history the US-Iran bullshit was going to ultimately signal a top of some nature in gold. You also checked your holdings, sold the non-essentials (and stayed balanced) if you are like me, sold nothing but prepared mentally if you are a long-term investor, or traded out if you are a casino patron err, sorry… day trader (sometimes I wish I were you).
Here is HUI and some of the more prominent miners/royalties with the charts not marked up. You can probably see the support areas pop right out at you. As of now, this is healthy and it was necessary. Let’s see what it does or does not develop into.
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