As you know, I have made a big deal about the positive macro backing a bullish view on gold stocks over much of the last year. That is well and…
As Inflation Bugs sell indiscriminately, the gold mining Macrocosm (of proper macro-fundamentals) is engaged A man sits in the White house. A different kind of man. A man who does…
Lately we have been noting that the fundamentals for gold and especially gold stocks have been bad and getting worse. I am trying to streamline weekly reports and not clutter…
I can only conclude that the gold "community" is so quiet right now and has been so quiet in the run up to right now because their favored views -…
While gold vs. the S&P 500 has not done much yet, I want to show a view of gold vs. a couple market leaders, the Russell 2000 and Biotech index, looking constructive.
The bounce has materialized, as anticipated. This almost had to happen given the vastly improved CoT structure for gold, the over sold levels of the stocks and the “puke” sentiment noted a couple weeks ago.
The first target on HUI is 180 (+/-). What we have going on there is a gap to be filled and a resistance area that has very clearly held support and provided resistance for the last 6 months.
Gold stocks are in the resistance target zone, so understand that negative reactions are becoming more likely. But I want to make a point that unlike the hype surrounding Ukraine and Iraq (i.e. geopolitical problems) that we discount as a fundamental underpinning for the gold sector, the headlines now coming from Europe and in particular Portugal are an actual fundamental underpinning because they speak directly to what is wrong with the debt leveraged financial system and our reasons for owning gold and/or the miners.