Wealth Creation Through Natural Resources
December gold futures have been as low as $1251.50 so far today. We have known that $1250 would be a big level in the event of a correction; the $1250 area served as resistance on numerous occasions throughout February and … Continued
Gold is down ~$30/oz and the gold miners as represented by the GDX are taking a beating to the tune of nearly 7%. Investors are beginning to ask themselves some important questions such as, where is the next area of … Continued
After a volatile last several weeks here is the current situation in the gold miners ETF (GDX): GDX (Daily) The August correction in the gold miners have given way to a volatile trading range defined by roughly $25 on … Continued
One month into the new year the gold miners (GDX) are the 2nd best performing equity sector of 2016 (utilities are the top performing sector) with a 3.6% gain. However, considerably more impressive is the 18.15% rally in the two … Continued
Less than 24 hours after Jeff Gundlach uttered the following words “they have got to dial this [hawkish] rhetoric back or the markets are going to humiliate them.”, gold broke out above a level it had previously had some trouble with, … Continued
This is the kind of gold futures CoT report that gold bulls definitely did not want to see: A sizable increase in net speculative long positioning combined with a 15,260 contract increase in open interest which appears to have … Continued
While the casual market observer might look at Friday’s 1.18% rally in gold, closing modestly back above the $1200/oz level, as nothing to write home about. Friday’s session offers some subtle bullish signs that should not go ignored: Many … Continued
On Tuesday we highlighted a powerful long trade setup in the GDX and yesterday the goldies rallied 5.32%. This morning we are seeing a little profit taking ahead of a big resistance level near $20: From my vantage point the … Continued
The gold miners as represented by the GDX have been pushed to the breaking point with yet another ‘bear flag’ forming just a few percent above crucial long-term support: To put the situation into perspective, GDX is barely more … Continued
The CFTC Commitments of Traders gold report for Tuesday March 10, 2015 is a curious one to say the least. While we saw a roughly $4 billion liquidation of net long exposure by large speculators (to the smallest net long … Continued