So says Jim Wyckoff at Kitco news.
I am still surprised of the unconfirmed strength in the GDXJ. Does this suggest further upsize in the price of gold and major miners. I am not so sure. First, the major miners have rallied since the end of the year. However, the volume levels remain muted. Ditto for the gold ETF's. Although I have shown how the gold miners tend to lead the price of the yellow metal and the price rise in the GDXJ may suggest a rebound, I would want confirmation from the majors before saying we are seeing strength.
I am still surprised of the unconfirmed strength in the GDXJ. Does this suggest further upsize in the price of gold and major miners. I am not so sure. First, the major miners have rallied since the end of the year. However, the volume levels remain muted. Ditto for the gold ETF's. Although I have shown how the gold miners tend to lead the price of the yellow metal and the price rise in the GDXJ may suggest a rebound, I would want confirmation from the majors before saying we are seeing strength.
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