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… [Read more…]