Mining Stock Quotes and Mineral & Metal Prices
November 2018 by Staff
Perhaps the most important phase of our chart analysis work is to find indicators that have proven reliable in the past in terms of providing indications of future market direction. One of our favorites is the “Bank Index,” better known by its trading symbol, BKX.
Our initial thought is simply this: why create these artificial currencies, unbacked by any material wealth, when the two items that worked so well century after century—namely gold and silver—are still fully available?
…At present we may be entering a period of relative stability on many economic fronts and, therefore, our focus is now trending more toward social upheaval and the resultant increase in tensions as the prime movers for the precious metals.
While gold’s chart has recently confirmed its short-term negative trend, the intermediate trend remains neutral while gold’s long-term chart is beginning to show some positive indications.
...controversy and animosity seem to be steadily increasing, quite possibly to the benefit of our precious metals as gold is now resting comfortably above $1,300—the highest level in more than two years as of mid-February.
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