gold trading, silver trading - daily alerts


Gold & Silver Trading Alert #2

February 9, 2018, 12:41 PM Przemysław Radomski , CFA

The mining stocks are plunging once again today and GDX moved below the December 2017 low just several minutes ago. Consequently, you might be wondering if this is a good time to exit our short positions and take profits off the table.

In short, we’re keeping the current short positions intact for now. It seems that we’re getting close to the moment of taking profits, but that we are not at it just yet. Miners are underperforming gold to a huge extent even though the general stock market is not yet massively lower. At least not compared to this week’s declines. Consequently, it seems that we can view miners’ underperformance as a bearish sign.

It could be the case that the miners correct along with the main stock indices and the latter are after a major breakdown below a rising support line. Their likely target is considerably lower (at about 2470 for the S&P 500), so it could be the case that miners’ downside potential is still considerable in the short term.

Gold and silver are relatively close to their support areas (as marked in today’s first Alert and as described more thoroughly in yesterday’s alert), but they have not yet reached them. Consequently, they have room for further declines in the near term.

As always, we’ll keep you - our subscribers - informed.

Thank you.

Przemyslaw Radomski, CFA
Founder, Editor-in-chief, Gold & Silver Fund Manager

Gold & Silver Trading Alerts
Forex Trading Alerts
Oil Investment Updates
Oil Trading Alerts

Did you enjoy the article? Share it with the others!

Gold Alerts


Jul Market Overview

Gold Market Overview

In this edition of the Market Overview, we will summarize the gold market in H1 2018 and provide tips on what to expect next. In particular, we will analyze the state of the current economic expansion, and whether or not it will end soon as many analysts believe.

Also, we will examine the two hottest issues in the past six months, or even the whole recovery: inflation and the yield curve which is only about 25-30 basis points from the inversion. As the inverted yield curve is believed to be a good predictor of the recession, we will dig into the topic and draw conclusions for the gold market.

Read more in the latest Market Overview report.

menu subelement hover background