2016 Year of gold mining stocks?
Driven by the rise of gold
Besides direct investment in gold physical or ETF, stock investors might want to look at gold mining stocks when gold is first placed best performing asset class year-to-date.
Consider the sterling performance of some of these stocks at a time many markets are in bear territory. Year to year, gold price is still in a down trend but these two stocks Newmont Mining and Barrick Gold print new 52-week high.
- Down trend from 2012 – 2015.
- Before closing March, Newmont stock price have already set new 52-week high.
- Decisive move above 2014-2015 high will terminate previous down trend.
- Very similar to Newmont’s price action.
- Price persisting above 13.70 should be seen as reversing previous trend.
Director, TerraSeeds Market Technician Pte Ltd. Trader, investor. @sohtionghum was picked ‘Top 70 Forex Twitter in 2015’. Operates multiple strategies.
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