As precious metal investors, it's paramount to rotate between the metals themselves and mining companies to maximize our long-term gains.

The miners have historically treated shareholders poorly, but sometimes, it pays handsomely to own them.

Last week, we outlined a key level of interest in one of our favorite intermarket ratios. Based on this chart, we believe now is the time to buy the miners.

But it's not just the miners that've rewarded us for being long. The futures contracts are also trending higher, and we're looking to buy more on strength.

Gold futures resolved another continuation pattern last week:

If you're bullish on gold and silver mining, it's time to BUY BUY BUY.

Gold was the best-performing asset class in 2024, far outpacing precious metal stocks. 

We wouldn't be surprised to see the mining stocks catchup in 2025. Why?

Sector rotation is the lifeblood of a bull market. 

This chart suggests it's time for some mean reversion 👇

People keep telling us, "2024 was the year of artificial intelligence." 

That's bull shit, and we have the data to prove it. Last year was a year for the gold bugs. 🥳

Here's an overview of how each asset class performed in 2024:

Silver relative to gold is the best intermarket ratio for precious metal investors to track.

The line goes up when the animal spirits are alive in the industry.

Earlier this year, the ratio broke a multi-year downtrend line. 

It looked poised to retest the neckline of a massive head and shoulders bottoming formation.

Instead, it's been a choppy mess in recent months, disappointing the gold bugs (including ourselves).

You need to see this zoomed-out chart of silver relative to gold:

The market just had a stress test, and gold passed it.

Now, what's next?

We've been monitoring the strength of the United States dollar, which has added to the selling pressure on gold. 

First, check out how helpful this intermarket relationship has been recently:

Newmont Mining has been a bellwether of the gold mining industry for decades, producing thousands of ounces yearly.

It's also the largest component in the gold miner ETFs like GDX and RING. As Ron Burgundy said, "I don't know how to put this, but I'm kind of a big deal."

Over time, the company has been mismanaged and desperately needs a makeover. 

Just look at Newmont Mining flirting with new all-time lows relative to gold:

Several months ago, we discussed the blowout momentum readings for the junior gold and silver miners.

These momentum thrusts often initiate the beginning of significant trend reversals, not the end.

Since then, the price action has been lackluster. However, our technical analysis suggests that the bulls are on the cusp of stepping in and resuming the primary uptrend.

Let's delve into the charts and how we plan to profit from them.

Silver Miners $SIL are printing fresh 52-week highs relative to silver futures:

Since gold futures hit our second target, the entire complex has undergone a corrective wave. 

While the market hasn't given us the all-clear signal yet, the correction seems closer to the end than the beginning.

Demand for gold worldwide continues to increase, and our intermarket analysis suggests the party is just starting for gold bugs across the galaxy. 

Moreover, our COT sentiment indicator is flashing a buy signal:

*BREAKING NEWS* $BTC printing fresh all-time highs priced in every fiat currency is NOT bearish for gold.

We recently recorded a video with our in-house crypto analyst, Louis Sykes, to discuss the connections between bitcoin and gold. 

The relationship isn't perfect, but it would be irresponsible of us as investors to ignore the correlation between 2 of the most significant hard-money assets in the world.

Last month, we discussed the correlation between digital and physical gold becoming positive again. 

Before we knew it, $BTC had resolved its base and followed gold to new all-time highs.

This suggests to us the bull market is still young:

Gold futures have been down in 6 out of the last 8 sessions since the winner of the U.S. Presidential Election was announced.

The US Dollar Index $DXY has been adding fuel to the selling pressure as it has screamed higher toward the upper bound of a multi-year range.

However, the dollar is entering one of its weakest seasonal periods of the year and should start serving as a tailwind for our shiny rocks.

And if the dollar is about to roll over, our equal-weight basket of precious metal stocks will likely resolve its multi-decade base and make new all-time highs:

We recently discussed gold achieving its second target since it put the finishing touches on a massive base earlier this year.

It wasn't clear how the price would react to our target, but sure enough, the sellers showed up right on cue.

But the weight of the evidence continues to suggest this bull market has legs and it's better to spend our time looking for buying opportunities, not selling opportunities.

Let's talk about the recent price action and what it means for our portfolios:

We all know it has been a bull market, but how sustainable is it?

In today's Gold Rush video, we addressed the elephant in the room. Is this a bubble?

Additionally, we revisited some of the greatest bubbles of all-time and tied it back to the current environment.

One of our favorite historic bubble examples is silver in the late 1970s: