Skip to content
January 3, 2012 / Jeb

Time To Buy Gold, Silver, Rare Earth and Uranium Miners

Rarely has such technical destruction been visited on stalwart sectors such as gold, silver and the mining stocks (GDX).  The silver charts reveal technical damage not seen since the destruction of 1984.  It can only be conjecture that can account for a once in a generation obliteration of a once hallowed sector.  It must be remembered that both gold (GLD) and silver (SLV) had major moves earlier this year to the $1900 and $50, surpassing overhead resistance and reaching overbought territory.  This may be the reason why the decline in precious metal is overextended and extremely oversold.  We urged caution back in April for silver and in September for gold.  Silver has characteristically corrected close to 50% from its highs, while gold has fallen less than 20%.  Pullbacks are normal and restorative in a secular bull market in precious metals especially after explosive moves.

Read the full article for free by clicking here…

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: