Precious metal miners: fathoming the abyss

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#1 Sun, Nov 16, 2014 - 6:37pm
Joined: Aug 29, 2011

Precious metal miners: fathoming the abyss

Since over two years, any miner revival has only been temporary... and was followed by fresh lows during the next leg down. The NYSE Arca gold bugs index (HUI) has slid back to the level of its October 2008 bottom. Relative to gold, HUI/Gold again quotes at its level before the start of the secular gold bull end 2000. Speaking about a gold miner bear market has become the most common understatement. Fathoming the abyss only requires a couple of graphs:

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This tells the whole picture, but perhaps you like some extra detail on the rear end: can be done.

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No wonder precious metal miners have become the most despised sector in the universe. Just an illustration: on the old forum for gold miners, I have been the only active poster left...

Will the odds improve? Almost certainly...

When ? Hard to tell, but it will require precious metals recovering from their own downtrend ...

Have we seen the bottom ? We've thought so several times and any recovery only was the prelude for more hardship to come. The odds still are against us.


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