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 Disclaimer: This 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.