kingworldnews.com / June 06, 2017
On the heels of the stock market decline and rally in gold, here is an important look at gold, stocks and the mining shares.
Gold Miners vs Gold
By Michael Oliver, MSA (Momentum Structural Analysis)
June 6 (King World News) – We’ve used the XAU Index of gold miners in the past due to its lengthy data history (GDX only began in 2006).
We include the GDX/gold spread (next page) to compare with the XAU vs. gold spread.
In any case, the annual momentum upside shift by gold miners (XAU) occurred in early 2016 around the time that gold and miners exploded in net price.