[VIDEO] Gold and Silver Mining Stocks Price Update

Gold Chart

Video below

Mining Stocks Leading Gold Higher?

I produced this video on the gold and silver mining sector last night, and as of this morning gold is up significantly and all of the mining stocks continue to follow through. Gold (see chart above) just broke above horizontal resistance and is now looking to break up from the August downtrend channel. A move above $1495 would resume the uptrend from 4Q18, where channel support recently held. As presented in early November, I continue to believe this is a Wave 4 of 5, and that we will retest the highs at $1560-$1580. A close above $1495 would confirm it.

In the video below, I cover price action in some key mining stocks as well as the gold:silver ratio and the S&P:gold ratio. If gold is going to make another push to $1560-$1580, we want to see miners lead the way. Thus far, they are showing strength, which is a positive sign for bulls.
 
Some of the stocks covered in this video:

$GDX $GDXJ $ABX $NEM $XME $WPM $GOLD.V

About the author

I am the founder of fibonacci.com and an avid trader. I am also the co-founder of Texas Precious Metals, a top US precious metals company. In 2006 I was a contestant on The Apprentice with future president, Donald Trump. I live in Coeur D'Alene, Idaho, with my wife and five children, where I spend my time hiking, charting, and changing diapers.

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