Go, Go, Gold

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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:

slopechart SI

Gold, on the other hand, strikes me as excitingly well-poised. This long-term continuous contract (spanning decades) is just terrific:

slopechart GC

I thus remain long both gold (by way of GLD) and miners (by way of GDX as well as GDX call options).