NFTRH Interim Updates

There is talk of economic growth and 'taper' in the air and the precious metals are with that script this morning and declining.  As reviewed in this week's report, gold…

A low priority update for gold stock traders/investors.

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GDX got a boost as the US stock market sagged.  That is more like what we are looking for in the precious metals.  Today GDX is trying to take the 50 day averages.  Here is the view of this important parameter.

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On Friday stocks went up, commodities went up… gold went up, with the weak ‘jobs’ report.  All of this presumably because the Fed could decide to back off tapering QE because of the bad report.

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Folks, today’s bad employment number is but one sample and it will probably take a trend to confirm anything about a softening economy.  But with T bonds rising hard today and their yield spreads lurching in a gold positive direction, we continue the recent mini trend of improving fundamentals for the gold sector.  Remember, gold is counter cyclical.  On that note…

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Another quick review for gold stock traders and investors... HUI has continued to decline in normal fashion.  The gap was filled yesterday as expected and now 195 should hold on…

For those involved in gold stocks... The HUI correction continues to look normal.  The gap has not filled yet and if it does and 195 is maintained, the index will…

The US economy is relatively strong and short rates are rising harder than long rates.  This implies a continued ‘risk on’ environment.  This is theoretically bad for gold but generally precious metals miners still remain constructive, technically, for a rally at least and a major bottom at best.

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