FYI on seasonal averages, which can deviate from the average in any given year. But just for your reference as we continue managing the correction.
Based on the average since 2001 (which includes both bull and bear markets) gold stocks tend to bottom in July before turning up hard in August. Last year HUI deviated and bottomed in May.
Gold stuck to its seasonal with a low in March, but is also relatively weak until August when it turns up.
Silver makes a hard bottom on average in June, then turns up well in July.