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The Look and Feel of a Precious Metals Bull Market
by Dave Kranzler Investment Research Dynamics
The following analysis and commentary is an excerpt from the latest issue of the Mining Stock Journal. You can learn more about this newsletter here: Mining Stock Journal Information
It’s starting to look, smell and feel like a sustainable bull market may be unfolding. For the first quarter, gold rose 8.2% and silver was basically flat for the quarter but rose 15.6% in March. The mining stocks, generically using the GDX ETF as a proxy, rose 12.2%.
[…] The chart above shows the price of gold and silver priced in U.S. dollars from 2001 to present. That is the chart of a secular bull market punctuated by cyclical ebbs and flows. The first bull cycle lasted from 2001 to 2011. It was followed by a bear cycle from 2011 to the end of 2015. In my view, the sector has been in a lateral “tug of war” that will be resolved by a historical move higher.