3 Reasons Gold Miners Are Ready To Rip
Tommy Humphreys | Jul 22, 2014 12:28AM ET
Shares of the senior gold producers (Market Vectors Gold Miners (ARCA:GDX)) continue to exhibit impressive resilience as they threaten a breakout from a 15-month head & shoulders bottom pattern:
There is ample reason for optimism that the second half of 2014 could be even better than the first half for the gold miners – the top 3 reasons gold miners are ready to rip:
- August and September are historically the most bullish months of the year for gold and the gold mining space.
- The gold miners have vastly outperformed the shiny yellow metal in recent weeks. Such outperformance by the miners has historically boded well for future performance in the space.
- Even after the recent rally, portfolio managers (PMs) still remain underweight the precious metals space - a technical breakout might be the catalyst needed to drive PMs back into mining shares in a big way.
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