It’s not a huge achievement to move to a yearly extreme if there have only been 5 sessions in the year so far, but still, GDX and HUI ended yesterday’s session well below all the previous closes this year. This, by itself, is not that important, but when we consider that gold declined by less than $2 yesterday, it becomes a major signal. A sell signal.

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Time is more important than price. That’s what we – investors – are often made to believe regarding the future price movement. And rightfully so. Price could reach a bottom several dollars ahead of the predicted price target or it could break through it, leaving investors wondering if there was a breakdown and thus they should expect to see another big downswing shortly. With time, things are clearer. The time for a given move is up and the price reverses. When is gold likely to finally bottom?

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There is a part of the precious metals market that was already overbought, but based on the last few days, its overbought status moved to the extreme. It’s now more overbought than in a decade. What is it? It’s... Gold. Today's alert includes details, facts to back the above and actionable summary with clear targets.

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Gold and silver futures moved slightly higher yesterday, but the GLD and SLV ETFs closed the session lower and the same goes for both the GDX ETF and the HUI Index. Have we just seen the top?

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Gold moved visibly higher during the first session of the year and this time mining stocks accompanied it. In fact, it seems that they are back on the track after a short pause. What’s the likely reason behind this year’s rally and what does it imply going forward?

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