Looks Like A Tell
Today’s trading action in the gold and silver miners is quite interesting. Given the recent strong breakout and subsequent pullback, I was expecting this week to be another good entry point, as Thanksgiving week often is, especially for silver. While one day is usually nothing to get excited about, the miners and related stocks are acting much better than the metals. My favorite tell for the gold miners, Royal Gold (RGLD) is telegraphing that good things are just ahead. We are on the verge of the next leg higher. Whether it starts tomorrow, Friday or next week, gold is headed to $1800 and above and silver towards the $24-$25 area, before we reach Christmas.