...But there's one area that's
showing real improvement, and that's the world of gold. Below
I show a daily chart of the metal itself, and it's a bullish
chart showing rising bottoms and rising tops. The last preceding
peak for Dec. gold was the August 20 peak of 415.50.
Gold, the metal, hit a peak
of relative strength against the gold shares (HUI) on July 26.
Since then, the gold shares (HUI) have been consistently outpacing
the metal. I'm going to include a few representative examples
of gold shares below. The charts are really self-explanatory.
Next, I show Newmont, the world's
largest producer of gold. This is the gold stock that has probably
attracted the greatest number of institutions. The (blue) 50-day
MA is about to rise bullishly above its 200-day MA. The preceding
peak for NEM was its Sept. 1 peak of 44.79.
I want to say something about
owning gold and gold shares. Personally, I have an easier time
owning gold over gold shares. Wife Faye, who has a different
personality, has no trouble holding gold shares, and she has
held many for years.
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