An Extreme Is Developing That Impacts The Gold Sector
Wednesday, May 31, 2017 at 08:24PM
Gold Prices

A very interesting extreme is developing in the currency markets that impacts the gold sector…

 

As Investors Panic Out Of Canadian Mining Stocks

If you look at the chart above, it shows an all-time record panic out of the GDX Gold Mining Index.  This is on top of the commercials taking an all-time long position in the Canadian dollar.  If you are a contrarian who likes to make money going against the panicking herd, now is the time to be buying high-quality Canadian mining companies, especially if you happen to be exchanging a foreign currency for Canadian dollars as you invest on those high-quality companies.

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 gold is trying to move higher, but the stocks are struggling to hold their ground.

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