Gold, Silver, Miners: 3 Spectacular Breakout Charts Suggest Much Higher Prices Underway

The price of gold (GOLD), the price of silver (SILVER) and precious metals miners (GDX) are all on fire today! This should not come as a surprise as we saw this coming many, many months ago. We reported this in our gold forecast and silver forecast.

In this article, we show 3 spectacular charts in the precious metals space that suggest that today was just the beginning. More fireworks are underway, much higher prices are underway!

The 3 charts we feature in this article, especially the first two, are ones hardly anyone on the world looks at. InvestingHaven is one of the few sites that feature this type of deep insight. We do so for free because we want to set up our followers for success. Big success!

Note that these charts are very powerful as opposed to following gold news. This gold news article, for instance, has little added value. Similarly, any search on gold-related news does not yield any article that is relevant for investors. As said in our 100 investing tips: stay away from the news, it is a lagging indicator and it is not created for investors (but primarily to sell advertising space).

Which gold investing vehicle exactly to choose? Most leverage comes from high quality gold and silver miners. We featured top gold stocks as well as top silver stocks several months ago, and they are really still actual!

Breakout chart #1: Junior gold miners to gold price ratio

The junior gold miners index (GDXJ) to the price of gold is a ratio that tells something about risk sentiment in the precious metals market. This ratio rises if investors are willing to take (lots of) risk.

This ratio is in a falling channel since 2011. This makes sense of course as that’s when the precious metals bear market started.

However, a spectacular breakout is now in the making, after an 8-year bear market!

The breakout started a couple of months ago, but a small push higher is needed to confirm it.

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