Today the takedown in gold and silver continues, but here is the big surprise…

Gold Market Bullish, Despite Pullbacks
October 20 (King World News) – The price of gold has already had 3 consecutive monthly closes above its key long-term 50-month moving average for the first time in more than 4 1/2 years.

Despite pullbacks, big picture for gold bullish for the first time in 4 1/2+ years!


What about the mining stocks?…

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Gold Miners Turn Bullish
The HUI (Gold Mining) Index is on pace for third consecutive monthly close above its key long-term 50-month moving average. This will be the first time the HUI has had 3 consecutive monthly closes above that key moving average in 5 years!

HUI also turning bullish for the first time in 5 years!


The chart below gives a 20+ year look at the HUI Index. The trend has turned bullish and the trend is for much, much higher prices in the coming months and years, despite continued games in the paper gold market.


Really big move in gold is still in front of us!


Early stages for rally in the mining shares…


Cash flow matters!


Yes, free cash flow for mining companies is at all-time highs, breaking the record set in 2011! And yet the HUI is roughly 70% lower than it was in 2011. That is how irrational things have become in the gold and silver sector, but it will not be a state of permanence. The purpose of the psychological warfare conducted in the paper markets is to keep people away from gold and silver and also to get them to sell.

Bottom Line: Patience
The bottom line is the long-term bullish trend is very powerful for the price of gold as well as the high-quality mining shares, despite the fact that games will be played in the paper gold market so that the commercials can cover short positions. For all of the gold and silver bulls, the wind is now at your back and will it will continue to be that way for many, many years to come as the price of gold and silver make their way to new all-time highs. All that is required at this point is patience.


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