In a market overrun with whipsaws and failed moves, our gold mining trades are holding their breakouts and reaching our initial targets. Not many market areas can make that claim.

Today, I outline multiple mining stocks and highlight critical levels of potential resistance for gold and silver.

Check it out!

From the Desk of Ian Culley @IanCulley

Gold mining stocks are the play.

Why?

Because they’re working!

In a market overrun with whipsaws and failed moves, our gold mining trades are holding their breakouts and reaching our initial targets. Not many market areas can make that claim.

And when you consider they’re outperforming the S&P 500 and the physical metals, it’s hard not to like these names.

Especially as gold and silver run into logical levels of resistance…

We have Phillip Streible on the show today.

I'm a big fan of Phil's work. He's the Chief Market Strategist at Blue Line Futures and a market veteran with more than 20 years of experience trading futures and forex.

Today, Phil shares with us his technical perspective on precious metals and discusses key fundamental drivers at play right now.

Check it out:

From the Desk of Ian Culley @IanCulley

The pieces of the puzzle are falling into place. 

Gold priced in USD has finally joined other global currencies, closing last week at an all-time high. Silver, the high-beta play, is outperforming its more reserved cousin (gold). And gold mining stocks are breaking out.

Many of our trade ideas over the past few weeks are working. I believe this trend has just begun and could last for months – or even quarters.

Especially when I consider this next chart…

Gold finished the month within ten dollars of a new all-time high on a monthly closing basis.

It's an impressive feat by any standards, but even more so considering March is the weakest month of the year from a seasonal perspective.

With Gold futures bucking seasonal weakness and Silver futures and mining stocks bid, investors are sending a clear message to gold bugs everywhere...

It's time to party!

From the Desk of Ian Culley @IanCulley

I thought March was supposed to be a seasonally weak period for gold.

I guess I was wrong.

Instead of rolling over, gold almost posted double-digit returns last month, while the higher beta plays (silver futures and mining stocks) soared.

As you might expect, many of the bullish trade ideas I laid out last month are working.

And, today, I have two new setups for you to check out…

Fresh two-year highs for the Gold/SPX ratio stand out this week, as gold outperforms its alternatives. It doesn't get much more bullish than fresh absolute and relative highs.

With that as our backdrop, I had Jason Perz @JasonP138 of Against All Odds Research on the show to share his view of the precious metals space.

From the Desk of Ian Culley @IanCulley

Money flows to where it’s treated best.

That’s the foundational premise of relative strength studies. 

Remember, we always want to buy the strongest and sell the weakest. It sounds simple. But it’s impossible to overstate its importance.

One of the best ways to increase our probability of success is to buy assets that are trending higher on absolute terms while outperforming their alternatives.

Those are key ingredients of a strong uptrend. And it just so happens that gold checks both boxes…

Buyers taking control of a market heading into the weekend exude confidence. And Gold bugs have done it two weeks in a row now and counting, as they reclaimed the former 2011 highs.

So what’s next for precious metals?

Well, if Gold priced in other major currencies is any indication (which I think it is), it looks like new all-time highs.

From the Desk of Ian Culley @IanCulley

Precious Metals are back on track, with Gold leading the way.

Gold bugs closed out last week with another strong showing, absorbing overhead supply at a critical level – the former 2011 highs.

With momentum on their side, let’s see how precious metal bulls are faring in other areas of the world.

From the Desk of Ian Culley @IanCulley

Strength begets strength.

Buyers taking control of a market heading into the weekend exude confidence. That describes gold bulls last Friday as they drove prices higher into the close.

To no surprise, Gold kicked off the new week gapping higher and rallying more than 2.5%. We call this bullish follow-through. 

So what’s next for precious metals?

Silver is clawing its way back after breaking down from a month-long consolidation and undercutting a critical shelf of former lows.

As we talked about last week, it all comes down to risk appetite. Silver bid speaks to a healthy risk-seeking environment favoring all precious metals.

And that's what we saw last week...