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Miners Reach Escape Velocity

Published 01/24/2018, 11:43 AM
Updated 07/09/2023, 06:31 AM

I’ve been yammering on quite a bit about how the dollar’s weakness and the yen’s strength would finally give the gold bugs a much-needed rally. Well, it’s here and GLD has cut above an important level of resistance, besides having already blown past its descending trendline.

SPDR Gold Shares ETF

And that, in turn, has driven the miners.

VanEck Vectors Gold Miners ETF

And who do gold bugs have to thank for this rally? THIS handsome devil!

U.S. Treasury Secretary Steven Mnuchin

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