Profile image
By Buy Gold and Silver Safely
Contributor profile | More stories
Story Views

Last Hour:
Last 24 Hours:

Gold Miners Decline Came As Called – Will Gold Continue To Decline After Breaking $1,300?

Tuesday, October 4, 2016 14:34
% of readers think this story is Fact. Add your two cents.

GDX was 29.94 when I said gold miners decline coming. It’s 24 now, a 19.8426.61% decline.

JNUG was 26.61 and is now, a 53.44% decline.

Dollar is still the key for gold and the Pound hit a 31 year low and Yen a 2 week low. What about the Euro?

Dollar cost average into your allocation takes away the guessing game but know your risk on leveraged ETFs.

Now that gold has broken below the $1,300 level ($1,276.80 as I type with silver $18.05), precious metals investors are wondering whether the bottom will fall out or should they go “all in” and buy as much gold and silver as they can because some say the dollar is going to crash. See my article that debunks Jim Rickards theory on the dollar death; The Fear Mongering Crowd – Dollar Death On September 30th Edition – SDRs

For me, the next move for gold depends on your outlook on the dollar and mine has been pretty consistent that gold will act inverse to the dollar but I also lean long the dollar as long time readers know. They also know I don’t write an article each week here on Seeking Alpha to make claims of what gold will do next, but what I try to do is just bring awareness of what I see so you can make good decisions with your precious metals investments.

Below is the chart from my July 19th article Gold Miners Decline Coming And Caution On Buying Silver Coins where I cautioned those long VanEck Vectors Gold Miners ETF (GDX), when it was 29.94, that some trouble may lie ahead.


This article continues on Seeking Alpha and you can find it here: 


We encourage you to Share our Reports, Analyses, Breaking News and Videos. Simply Click your Favorite Social Media Button and Share.

Report abuse


Your Comments
Question Razz Sad Evil Exclaim Smile Redface Biggrin Surprised Eek Confused Cool LOL Mad Twisted Rolleyes Wink Idea Arrow Neutral Cry Mr. Green

Top Stories
Recent Stories



Top Global

Top Alternative



Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.