Gold stocks still haven’t broken September highs

In the coming days, I’m watching whether gold stocks make higher highs than those seen a few months ago.

This will help decide if we see a further leg higher.

This is important (and against growing probability) because the Gold price has just touched a weekly overbought extreme in RSI and my preferred greater 2.5 standard deviation.

The charts below feature the prices of Newmont and the U.S. junior gold miners index along with Australia’s Northern Star Resources and Evolution Mining.

March 7, 2022

by Rob Zdravevski

rob@karriasset.com.au