Nobody wants your rocks

I’ve been bearish gold ever since SGDJ (Junior Gold Miners ETF) made a failed breakout in early Jan. It’s currently breaking down again, this time from the bottom of its 8-month range.

This comes right after Gold failed to hold critical support on the monthly chart last month.

Several gold mining stocks ran into multi-decade channel resistance last summer:

And it’s the same thing for silver mining stocks, except they hit major resistance last month:

Meanwhile, the Copper:Gold Ratio is making a 10-year breakout.

Of course, all this is related to the inflation trade that I’ve been talking about (see here, and more recently here).

Important DisclaimerThis 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.