Gold stocks’ brutal thrashing in March pummeled GDX to its least-overbought levels in over a year. That went a long way toward rebalancing late February’s extreme technicals and greedy herd sentiment. And the miners and their metal are now early in their usual spring-rally strong season, during which gold stocks exhibit their biggest seasonal leverage.
To be sure, Gold’s days are vehemently volatile, indeed as are its weeks per the following year-over-year graphic. The expected weekly trading range for Gold is now 369 points, the daily alone being 196 points.
In Australia, researchers have found minute traces of gold in the leaves of eucalyptus trees.
Technical stock chart updates on $FNV, $GDXJ, $JNUG, $GLNCY and more.
I have written for years that oil prices act like a tax on the economy, both on the US and globally. It is actually simply the price paid, but the effect on the economy is similar to a tax.
