Gold And Miners Finally Bust Out

Managing Partner at Tim Knight Organization • Aug 28, 2017 at 12:55 PM EDT

Gold has broken out smartly and I remain cheerfully long the miners, having augmented my position this morning.

As I wrote on August 24th regarding junior miners, “...as I look at the miners, I’m seeing signs of life. If you believe the breakout is meaningful and want to amp up your commitment, a good way to do it would by via the triple-bullish ETF symbol below, which itself has had a clean breakout from a rather long downtrend.”

Well, it didn’t take long for this to blossom, as gold has broken out smartly.

0828-gld

Followed, naturally by miners…

0828-gdx

…and the juniors themselves.

0828-gdxj

I remain cheerfully long the miners, having augmented my position this morning.

Disclaimer:

This is not meant to be a recommendation to buy or to sell securities nor an offer to buy or sell securities. Before selling or buying any stock or other investment you should consult with a qualified broker or other financial professional. The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. The author wrote this article themselves, and it expresses their own opinions. The author has no business relationship with any company whose stock is mentioned in this article nor is receiving compensation from any of the companies mentioned.

STOCKS IN THIS ARTICLE

GDX GDXJ GLD

Comments

Back to all articles

STOCKS IN THIS ARTICLE

More from this Author

South Korea Rehash

Crude Charts

All Up To ES/NQ