The strength in gold stocks was not a one-day event. Despite the daily reversal that we saw during last week, gold miners managed to close the week at a new monthly high. In fact, Friday’s close was the highest close in the GDX ETF in 2 months. The HUI to gold ratio increased significantly in the last few days as well. The strength in mining stocks seems to be indicating that the rally in the entire precious metals sector is only beginning. What’s next?
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