News Formal

Gold Stocks Nearing Major Breakout - How to Capitalize on the Potential Surge

  • 📰 Investingcom
  • ⏱ Reading Time:
  • 26 sec. here
  • 5 min. at publisher
  • 📊 Quality Score:
  • News: 24%
  • Publisher: 53%

XAU/USD News

Gold Futures,Vaneck Gold Miners ETF,Vaneck Junior Gold Miners ETF

Stocks Analysis by Jordan Roy-Byrne, CMT covering: XAU/USD, Gold Futures, VanEck Gold Miners ETF, VanEck Junior Gold Miners ETF. Read Jordan Roy-Byrne, CMT's latest article on Investing.com

Gold exploded out of its 13-year cup and handle pattern through $2100/oz, and soon after, Silver broke out of a three to four-year range past $26/oz.As the economy slows toward recession, it eliminates recent cost pressures for miners.

The index has 28 companies, a median market capitalization of $200 Million, and an average market capitalization of $350 Million. The beautiful thing is that gold stocks are trending bullish and building momentum, yet everyone still hates them.As one can imagine, very few of the responses were favorable to the miners.

Gold looks to continue to trend higher to its cup and handle measured upside target of $3000/oz. Meanwhile, miners and juniors are in a prime position to leverage this move.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 450. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Gold miners 'ripe' for a break out: Analysts name stocks to buy into the gold rushA number of analysts say the precious metal will go even higher, giving their predictions on prices.
Source: CNBC - 🏆 12. / 72 Read more »