Are gold, silver and the mining shares on the verge of skyrocketing?
Today King World News wanted to share just how bad sentiment is in the gold and silver sector, and also take a look at the opportunity it presents…
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When gold and silver bottomed in the middle of December 2015, the number of bulls in the gold market had plunged all the way down to just 42 percent. Today the number of bulls has fallen to 51 percent, just 9 percent off the 2015 bear market bottom.
A Major Silver Bottom Is Completing
The numbers get even more interesting when you look at the silver market. When silver bottomed in the middle of December 2015, the number of silver bulls had collapsed down to just 33 percent. 33 percent was the reading for several consecutive days from December 20-23, 2015. Well, today the number of silver bulls stands at a meager 36 percent. What that means is that we now have essentially the same sentiment readings as we did at the bottom of the 5-year bear market in gold and silver in 2015.
Silver And The Mining Shares Then Skyrocketed
After the 2015 bottom, the price of silver soared more than 51 percent in less than 7 months, and the HUI Gold Mining Index skyrocketed an astonishing 185 percent during that same time period. If silver were to repeat a similar surge, that would put the price of silver above the $24 level. If the HUI Gold Mining Index were to go on a similar tear, that would put the HUI at 333, from its recent low of 180.
The bottom line is that there will be a great deal of money made on the long side as investors accumulate physical gold and silver as well as the high-quality mining shares during this period of weakness that is nearing its end.
***KWN has now released the remarkable audio interview with London whistleblower Andrew Maguire and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
***ALSO JUST RELEASED: The Last Time This Happened It Preceded The 2008 Financial Collapse CLICK HERE.
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