Over in the gold patch things went from disinterested and downright antagonistic (A Notable Lack of Interest in Gold) to sleepy (Gold “Community” Crickets) to ferociously over bullish. Check.
Any long-time and right minded gold bug will tell you that the latter condition is usually a signal to prepare for some turbulence.Wednesday and Thursday brought the turbulence in the form of a reversal and pullback for gold, silver and the miners.
Since we became constructive on the gold sector in Q4 2018 (per the links above and especially NFTRH reports/updates) the groundswell of gold boosting (pom poms and all) has steadily risen since it became obvious that something bullish was going on in January. And it appears that last week’s breakout from various daily chart bull flags in gold, silver and the miners finally jerked ’em all in. Enter the Thursday pullback. (more…)