My proprietary mechanical system is showing the first signs today that the downtrend in gold and precious metal stocks may be reversing.
The stock market as a whole is very stretched after such a fast rally, while the bond market is extended the opposite direction as US 10 year bond yields have risen 40% (from 1.7 to 2.4%) in only two weeks.
With the Italian constitutional referendum approaching on December 4 and the time of seasonal strength beginning in precious metals, we could be in for a strong rally for some time.
One stock I like at this time is Franco Nevada with a minimum target of $84.00
The stock market as a whole is very stretched after such a fast rally, while the bond market is extended the opposite direction as US 10 year bond yields have risen 40% (from 1.7 to 2.4%) in only two weeks.
With the Italian constitutional referendum approaching on December 4 and the time of seasonal strength beginning in precious metals, we could be in for a strong rally for some time.
One stock I like at this time is Franco Nevada with a minimum target of $84.00
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