Gold update

After largely avoiding this space all year, I looked at the bullish setup in gold on Oct 7 (link) and again on Oct 13 (link). Since that original post, the major mining ETFs are up between 9-12%.

This sector bottomed on Sep 29, a week prior to my original post. I believe that was a major low in the gold space. Measuring from that point, the major mining ETFs are up between 14-19% less than one month later.

People are starting to take notice and dipping their feet in. But after such a big run in one month, we could see a healthy pause here given…

Silver Weekly: at resistance.

US Dollar Index Weekly: on support.

Despite the possibility for a short-term pullback, the big picture is still very bullish for the gold space.

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Important Disclaimer: This blog is for educational purposes only. I am not a financial advisor and nothing I post is investment advice. The securities I discuss are considered highly risky so do your own due diligence.