Monday, January 5, 2015
End of day goldbug sitrep
You won't believe what happens next!
GDX spent the day advancing beyond its SMA(50). It hasn't been this far above its SMA(50) since I dunno August or something.
Even GDXJ ended above its SMA(50), and it's full of companies that suck.
GLD's chart shows nothing exciting, just a continued consolidation and maybe a higher low if we don't drop below $112.50, but that doesn't matter cuz:
ex-US dollar, gold's taken off.
And anyway, if the Americans are playing the long-USD-short-gold trade, then why isn't gold going down in US dollars? And why has it gone up ex-USD?
Looks like maybe someone's catching on....