It’s a it odd for me to be so persistently bullish about anything, but I continue to cheer the ascent of precious metals (and, more specifically, their miners, where I am super-long). Here is the futures market for gold over the past few days:
I’m not sure if it’s germane, but the fact that gold is so strong even with the US dollar strong is, I think, especially impressive. When it comes to long-term projections, silver is interesting but, for the moment, still kind of iffy:
Gold, on the other hand, strikes me as excitingly well-poised. This long-term continuous contract (spanning decades) is just terrific:
I thus remain long both gold (by way of GLD) and miners (by way of GDX as well as GDX call options).
