Thursday, August 22, 2024

Good Morning!

What a difference a week can make. 

Gold broke above $2500 and away from its recent consolidation.

The gold and silver stocks exploded higher. The ETFs gained 7%-10% last week and added to those gains this week. 

Both GDX and GDXJ are closing in on major breakouts.

Read more below.....

If you follow my work you know that I am more interested in intermarket analysis, ratio charts, historical patterns and analogs far more so than a basic GDX or GDXJ chart.

Hence, I was taken aback when I pulled up the long-term weekly charts for GDX & GDXJ. 

With Gold now potentially moving towards the cup and handle measured upside targets of $2900 or $3000, there is a decent probability of accerlated upside in miners and juniors. 

In TheDailyGold Premium...

TDG #896 was a heavy text update.

It included news updates & commentary on quite a few of our companies. We also updated the company notes part of our Top 10 Watch List. 

Last week we teased a company we added to our watch list as a top 10 potential company. It surged 47% last week.

When something is clearly undervalued and has big potential (and you are in a bull market), you have to buy it or risk missing it.

We also noted that we are buying a company on our watch list. We have covered it in recent weeks. It is a sure-fire takeover candidate and we think it can add to its current value. And it is undervalued at present. 

Do you want to invest in the best quality juniors with the most upside potential in a bull market? 

These companies are still trading at good values but I suspect those values will fade quickly as share prices move higher over the coming weeks. 

Thank you for reading.

I wish you all the best in 2025 and beyond.