GDX Model

[Pascal]

It is interesting to see that gold is attracting some money now.

I believe that investors just realized that central banks are there for a continued interest rates push down through monetization. Even though the PM prices have been pushed down, investors are now very aware that China is buying "whatever available" and that the Fed will have difficulties to disconnect the almost perfect long-term correlation between the price of gold and the available supply of money.



On a related note, The GDX RT model is close to entering the overbought level.
If we close above the 1% MF level, the GDX Model will start its day-trading analysis and advise of the probable PM direction depending on the opening gaps and the MF direction of the first twenty minutes of trading.




Pascal