I'd feel a lot better about getting long for a rally in gold and silver if people would stop drawing these rocket ship lines on charts. People are still too hopeful. Bottoms are found when people have given up, not when they hope for a moonshot every day
BREAKING: The US Military has conducted new strikes in the area of the Strait of Hormuz, per Axios.
This would mark the first US strikes in the region since the โMemorandum of Understandingโ was signed.
I sure hope GDX longs know something that gold and silver long don't, because both metals have shattered their June lows and GDX is still clinging to its June low by its finger nails. If gold and silver don't rally tomorrow, there's likely to be a panic in the mining equities.
@ralphkaz That's either because the metals will turn and rally tomorrow... OR (and I'm more worried about this possibility now in light of today's action) mining bulls are overconfident and complacent. XME and COPX are breaking down too now. Prolly not good, especially if the spoos slide