Despite the extreme bearish sentiment and historic capitulation in the mining space, it is finally time for gold, silver, and mining stocks to be unleashed to new all-time highs.
November 23 (King World News) – Here is an update on the preposterous situation taking place in the gold space, and why we have finally hit rock bottom…
9 days ago King World News published this note on the gold space
This sums up the endless frustration of investors in the gold space…
King World News note: Below are two charts that perfectly illustrate investor frustration about the gold space.
Gold Has Basically Traded Sideways For The Past 6 Months, Only 1.5% From Where It Started
Even Though Gold Has Essentially Traded Sideways For 6 Months, The HUI (Gold Mining Index) Has Plunged 20.5%
Did we mention the last 6 trading days were to the downside? We’ll just leave it there.
Flash Forward To Today…
Price Of Gold Now Trading Higher Than It Was Roughly 6 Months Ago
But Even Though Gold Is Higher Over The Last 6+ Months, Somehow The HUI Is Still Down Double Digits In Percentage Terms
You can see from the chart above that after King World News highlighted the preposterous situation in the gold space which culminated with 6 straight down days for the HUI Gold Mining Index, the HUI bottomed and is now forming the right shoulder of a reverse head & shoulders pattern.
This should mark the final bottom of this protracted period of suffering for gold mining and exploration investors as the gold market finishes its multi-year consolidation pattern prior to breaking out to new all-time highs. Silver will also be headed to new all-time highs along with the mining stocks. This mega-bullish prediction stands in stark contrast to what has evolved into the worst sentiment seen in the mining and exploration space in history.
Just Released: Gold & Silver Breakout!
To listen to Alasdair Macleod discuss why next week may be a huge surprise gold and silver investors around the world CLICK HERE OR ON THE. IMAGE BELOW
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