Miners will continue to disappoint
Miners are quoting lower at any next time the same gold level is revisited. As we recall the last few times gold broke above $1300/Oz, those were the HUI gold miner index levels attained on those days:
Date
|
HUI
|
Gold
|
6/08/2014
|
241.7
|
1305.9
|
24/06/2016
|
237.9
|
1315.6
|
3/11/2016
|
219.0
|
1302.2
|
28/08/2017
|
209.1
|
1309.5
|
13/10/2017
|
202.8
|
1303.3
|
29/12/2017
|
192.3
|
1302.5
|
14/06/2018
|
182.1
|
1301.9
|
25/01/2019
|
158.6
|
1302.6
|
It looks even more obvious on a simple scatter graph:
HUI on the right axis, Gold on the left axis |
Moreover, while the ‘degradation’ seems temperate at first, it accelerated since summer 2017. This is nothing less than HUI dropping below its ‘linear regression‘ it managed to uphold for about five years.
Last years’ article “Gold miners persistently lagging the metal” exactly pinpointed what’s going on.
The broken down linear regression
HUI – Gold regression line, the blue dots cover the July 2012- July 2017 period |
Gold (left axis in red) and the HUI (right axis in blue) |
Regression residuals have last been positive during summer 2017. About the best we’ve got ever since is a reading close to zero. |
Miners are not delivering to expectations
Conclusions
Source: https://gwyde.blogspot.com/2019/01/miners-will-continue-to-disappoint.html
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).