Has Trump’s "Chip for Rare Earth" strategy backfired?
It's been a rough couple of years for the Gold Bugs index (HUI) as it has lost almost two-thirds of its value. The large decline has driven the HUI on a monthly basis down to dual long-term support lines.
Remember that support is support until it's broken!
If this support fails to hold for the Gold Bugs index, the next support line is a long way down.
Metals members harvested gains of late in metals stocks and will be looking to re-enter longs on what happens at this support line. (see this post).
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