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Could the time finally be nearing for gold stocks to perform?

by , 10 November 2015

Gold stocks hit the skids again in July, but since them have shown some signs of bottoming out.

In fact, the performance of gold stocks this year is mirroring what happened last year.

So is it time for gold stocks to finally perform?

Let's take a closer look…


Can gold stocks continue their upwards trend?

 
In September, gold stocks broke out of their downward trend and surged higher. This continued last month too.
 
But this month has brought prices lower again for gold stocks. Have a look at the chart below of the JSE’s Gold Mining Index over the past few years…
 
Chart of JSE Gold Mining Index
 
You can see this pretty much mirrors the moves of the US Market Vector Gold Miners Fund…
 
 
Chart of Market Vectors Gold Miners Fund
 

As you can see from both charts, a rally started last December and this could be on the cards this year too.
 

The next month will be telling for gold stocks

 
The key now is that gold stocks must hold their ground or there’s a chance they won’t rally again this year. The gold sector needs to break out of its current pattern.
 
If gold stocks can’t hold, then there’s the chance that these gold producing stocks will fall back to where they were before October. 
 
Gold stocks are currently at a major inflection point, Jeff Clark in The Crux explains. If they can stop falling from here, the current uptrend could continue.
 
Keep an eye on what’s happening with gold stocks. If their prices start to pick up, it could be a good time to enter the market. But if they don’t, it will be a waiting game yet again.
 
So there you have it. Why the time could finally be nearing for gold stocks to perform.
 
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Could the time finally be nearing for gold stocks to perform?
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