have been asking me if I thought it would take a big sell-off in the general stock market before the mining stocks will resume their bull cycle, noting that “several analysts seem to think that’s the case.”. I don’t know what more goldbugs could ask for? That GDX ROR was achieved with the stock market in a strong rally. When GDX topped on 10/22/24, it was up 71% from the end of February. The sell-off since the top is part of a much-needed corrective pullback.
This correction/pullback in the sector will run its course. The miners might get pushed lower if the stock market dumps but I think there will be a New Year’s rally as retirement fund contribution money and cash flowing into investment funds is put to work. But who knows? But it wasn’t the continued dump in the general stock market that triggered the rally in the mining stocks. It was driven by the sharp reversal in gold and silver after the Fed began to print money. Smart money that understood the effect money printing would have on the value of theand mining stocks. I expect the Fed to begin overtly printing money, likely under a program with a misleading name – like “Bank Term Funding Program” – which was a form of QE.
مصر أحدث الأخبار, مصر عناوين
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