The first part of this video covers the both the near-term & long-term outlook for gold & the mining sector. A case is made that although the intermediate & longer-term outlook is still bullish, the mining sector is overbought while at resistance, thereby elevating the odds for a near-term pullback in the sector at this time or at the very least, careful consideration should be made before adding new exposure to the sector at this time despite the recent bullish price action. At the end of the video, we take a quick look at the charts of a few of the largest components of the GDX (gold mining ETF): GG, ABX, NEM, SLW, & FNV.
Gold & Silver Mining Sector Overview (video)
The first part of this video covers the both the near-term & long-term outlook for gold & the mining sector. A case is made that although the intermediate & longer-term outlook is still bullish, the mining sector is overbought while at resistance, thereby elevating the odds for a near-term pullback in the sector at this time or at the very least, careful consideration should be made before adding new exposure to the sector at this time despite the recent bullish price action. At the end of the video, we take a quick look at the charts of a few of the largest components of the GDX (gold mining ETF): GG, ABX, NEM, SLW, & FNV.