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Miners continue winning

Jason Goepfert
2020-08-04

Gold miners continue their winning ways. Every one of them has been above their long-term 200-day moving averages for a week straight, not something we've seen often over the past 25 years. According to the Backtest Engine, this has happened on 39 other days, and the NYSE Arca Gold Miners Index added to its gains over the next two weeks after only 6 of those days, averaging a return of -4%. The metal, and especially the miners, have had a very difficult time holding onto gains in the face of optimism over the past decade, so a continued rally would be a sure exception to historical precedent.

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