Tom Petty said it well.
The Waiting is the Hardest Part.
Precious Metals remain in a correction, and we’ve been waiting and waiting for a better entry point.
After a spectacular four-month move, Gold and Silver stocks still have not corrected enough in price and time.
But the good news is, they are starting to make some progress.
It appears that GDX (NYSE:GDX) and
GDXJ will test their September lows at $37 and $52 reasonably soon.
Should GDX and GDXJ break those lows to the downside, then we should get ready to buy. GDXJ has a confluence of strong support just below $50, and GDX does just below $36.
GDXJ (Top) & GDX (Bottom) Chart (Image not shown due to low ratings)
(Image not shown due to low ratings)
Images were hidden due to low ratings.
You hear about the Russian gold hit?