Jason Goepfert

11-20-2020 at 5:32 pm

Daily Report : ETF traders leave gold, pushing miners into bear markets; AIM Model

The amount of gold held by ETF traders has dropped more than 1.5% from the October peak, leading to fears they will leave the market and pressure gold prices lower. At the same time, more than 95% of gold mining stocks have moved into correction and more than 75% into a bear market.; The AIM Model of sentiment surveys is showing extreme optimism for the first time in more than 9 months. After a prolonged bout of "not optimism" we've usually seen buyers continue to push over the short-term, but with some soft spots over a medium-term time frame.

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