{"id":161933,"date":"2019-12-16T14:14:01","date_gmt":"2019-12-16T19:14:01","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=161933"},"modified":"2019-12-16T13:28:17","modified_gmt":"2019-12-16T18:28:17","slug":"gold-mining-stocks-chart-pathway-for-gold-breakout","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/12\/gold-mining-stocks-chart-pathway-for-gold-breakout\/","title":{"rendered":"Gold Mining Stocks Chart Pathway for Gold Breakout"},"content":{"rendered":"<div id=\"inves-2492391296\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">December 16, 2019<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p><b>By Money Metals News Service<\/b><\/p>\n<p>Gold and silver prices remain mired in weeks-long trading ranges. They are essentially moving sideways \u2013 for now.<\/p>\n<p>Precious metals mining stocks, however, are moving up. The chart of the HUI gold miners index shows an uptrend in place since mid October.<\/p>\n<p><img decoding=\"async\" class=\"img-responsive center\" src=\"https:\/\/www.moneymetals.com\/uploads\/content\/gold-bugs-index-191213.jpg\" alt=\"Gold Bugs Index (December 13, 2019)\" \/><\/p>\n<p>The HUI has traded above its 50-day moving average for several days in a row. The 50-day line itself is now also curling up, confirming underlying technical strength.<\/p>\n<p>If the HUI is a leading indicator for spot gold (and it often is), then gold prices may be on the verge of also breaking out. Gold closed last Friday right at 50-day moving average resistance.<\/p>\n<p><img decoding=\"async\" class=\"img-responsive center\" src=\"https:\/\/www.moneymetals.com\/uploads\/content\/gold-price-191213.jpg\" alt=\"Gold Price (December 13, 2019)\" \/><\/p>\n<p>A couple strong closes above the 50-day line should put gold on a pathway to an extended rally.<\/p><div id=\"inves-276776647\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<p>Silver, meanwhile, has been trading around the $17.00\/oz level for the past five weeks and needs to break above $17.30, then $17.50, to get something going on the upside.<\/p>\n<p>Bulls can take encouragement in the impressive outperformance of the Silver Miners ETF (NYSE:SIL). It gained 4.5% last week to reach a three-month high. Another move of that magnitude this week would put SIL at a new high for the year \u2013 and give silver itself some catching up to do!<\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/countingpips.com\/articles-analysis\/wp-content\/uploads\/2016\/03\/money-metals.png\" width=\"80\" height=\"79\" align=\"left\" \/> The Money Metals News Service provides market news and crisp commentary for investors following the precious metals markets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Money Metals News Service Gold and silver prices remain mired in weeks-long trading ranges. They are essentially moving sideways \u2013 for now. Precious metals mining stocks, however, are moving up. The chart of the HUI gold miners index shows an uptrend in place since mid October. The HUI has traded above its 50-day moving [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-161933","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/161933","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=161933"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/161933\/revisions"}],"predecessor-version":[{"id":161945,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/161933\/revisions\/161945"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=161933"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=161933"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=161933"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}