After calling the major bottom of the gold, silver and mining share markets, King World News is now telling its global readers to ignore the gold and silver volatility because the whole sector is ready to skyrocket.
December 12 (King World News) – When stepping back to take a look at the big picture, sometimes it is important to look at the very, very big picture. Below is a chart of the HUI Mining Stock Index.
The 50-Quarterly Moving Average Has Been The Big Hurdle To Overcome Since The Bull Market In The Mining Stocks Ended In 2011 And Subsequently Went Into A Long Bear Market. The Recent High In The HUI Of 245 Ran Right Into The 50-Quarterly Moving Average (See Right Hand Side Of Chart). Once That Level Is Hurdled, The Bull Market In The Miners Will Begin To Rapidly Accelerate On The Upside.
For those who follow the XAU Gold Mining Index, that index remains above the 50-quarterly moving average.
XAU Remains Above The 50-Quarterly Moving Average, Signaling That The Bull Market Has Already Begun. Mining Stocks Now Waiting For Confirmation From The HUI Gold Mining Index
The bottom line is that the next leg of the secular bull market in gold, silver and the mining stocks is already underway. For those looking to accumulate the high-quality mining stocks, time is running out at these highly-discounted levels. In fact, you are most likely seeing the end of the pullback right now. And as soon as the HUI hits a new high above the 50-quarterly moving average (245), the sector will become electric on the upside. All that is required now is patience.
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