Gold Rush: It was only a matter of time...

JC Parets
January 14, 2023

In the 4th quarter we saw the Phlx Gold & Silver Index ($XAU) break out above its key level, invalidating any bearish thesis that one could possibly have for Precious Metals.

You see all that resistance in the $XAU in 2013 and 2016, right around $110-113?

Well once we got back above that in November, it was time to start buying Gold & Silver stocks.

But where was the most popular ETF $GDX?

It was still below that overhead supply, as you can see in this chart below.

Until now...

It was only a matter of time.

That $31 level in $GDX has been a big one for us for a long time. You guys who have been following along already know it well.

For those of you new around here, this level has been very important to us for as long as I can remember.

In case you needed further confirmation that owning precious metals stocks is in our best interest, you just got it.

We’re in the midst of a serious Gold Rush.

And Monday, we’re dropping our next Gold Report and Weekly Gold Video exclusively for All Star Charts Premium members.

We’re doing a weekly deep-dive into gold and precious metals - what’s impacting their prices, where they’re headed, and how we can take full advantage of these trends.

These are Stocks, ETFs, Large-caps, Junior Miners, Silver, Currency Charts, Intermarket Relationships and anything & everything that is related Metals.

It’ll all be in the next Gold Report.

If you’re not already a Premium member, shoot me an email and we'll get you set up.

See you in there!

- JC

Live Mid-Month Strategy Session

Our live Mid-Month Strategy Session for ASC Premium Members is happening Tuesday, January 17, at 6:00 p.m. ET.

As always, if you can’t be with us live, we’ll publish the recording and the chartbook in the Strategy Session archives, along with every other live call since 2015.

ASC Premium Members, click here to register for Tuesday’s Strategy Session.

Non-ASC Premium Members, call Mary at +1 (323) 421-7910 for the best information about how to join us.

 

Filed Under: