Gold Miners Get Hammered – Buying Time? | The Mesh Report

Gold Miners Get Hammered – Buying Time?

Mike Hammer April 26, 2017 Comments Off on Gold Miners Get Hammered – Buying Time?

Hot on the heels of the French primary election, and Donald Trump saying happy things to business, traders dumped gold to go looking for the next home run stock. Traders dumped gold, and they also dumped (most) gold mining stocks in their quest to raise trading capital. This chart tells an interesting story:

We know, the top part of the chart is a bit squished. Bear with us through the story.

The chart shows the relationship between GLD and NUGT over the last three months. The chart shows the percentage changes in each starting at the date on the left side of the chart. So if they changed the same relative amount (i.e., percentage), the two would track together across the chart.

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