The junior miners were already breaking down badly. Now the big fund of precious metals miners has joined it, breaking its trendline clearly.
Miners Join Failure Party
Slope of Hope Blog Posts
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Precious Faltering
Since apparently the only assets worth owning are money-losing tech companies, old-fashioned paperweights like gold are getting the cold shoulder. The front month on gold is down about $27, and GLD has maintained a series of long-term lower highs for an extended period.
Gold Stocks: Nothing Special
In the current macro setup, gold stocks are nothing special (yet)
They are at it again. Articles catching on to the US dollar breakdown are appearing in the smaller media (e.g. blogs and websites that are ‘perma’ pro-gold, anti-USD, anti-stock market, pro-financial Armageddon, pro-emotional “analysis”), where the thickest bias and dogmatic views are aimed at less experienced investors through emotion.
Yes, gold is bullish. It has actually been bullish on the big picture since it took out 1378 (what NFTRH had targeted as the “bull gateway”) back in 2019. That began the next leg of the ongoing bull market that began in 2001. Yes friends, gold moves slowly. And why shouldn’t it? Bubbles, like the grand one that is still alive in stocks, move faster. They move faster on the upside and boy do they move fast when they burst.
(more…)Palladium Zapped
Yikes. I remember how hot-to-trot everyone was about Palladium a few years ago. This has come full circle, having lost about two-thirds of its value!
The Long and Winding Gold
Judging from this chart of the /GC futures, I’d say gold’s most likely path is a traverse down to its major supporting trendline, somewhere in the upper 1700s.
