Gold Stocks Are Coming Back to Life

It started to feel like we would never see this again... After all, the world suffered a brutal pandemic. Then the supply chains faltered. And soon after, inflation soared. All the while... gold stayed silent. [Chaikin PowerFeed]( Gold Stocks Are Coming Back to Life By Vic Lederman, editorial director, Chaikin Analytics It started to feel like we would never see this again... After all, the world suffered a brutal pandemic. Then the supply chains faltered. And soon after, inflation soared. All the while... gold stayed silent. Sure, the metal had soared from 2019 to its 2020 peak. It climbed roughly 50% in 20 months. But after that... gold prices got stuck. In fact, gold didn't make a new high for more than three years. It was a brutal, sideways grind. But then, something dramatic changed. At the end of last year, gold prices broke out to a new high. And they kept going higher. Now, we're seeing gold mining stocks react to the new price trend. And the Power Gauge is flashing a "very bullish" signal on gold miners. Today, let's take a closer look at the situation... Recommended Links: [TODAY: The Return of the Gold Standard?]( As controversial House Bill 1955 moves through the Senate, multiple states are preparing for a return to gold after 53 years... which is why two top experts just stepped forward to cover the surprising implications for your money and the markets, regardless of what Congress decides. Don't put any more money in the market until you hear the fascinating gold story playing out [right now](. [Urgent Alert: 'This Could be Worth 20X More Than Nvidia']( Whitney Tilson has nailed many of the most famous stocks of the last 25 years – including Netflix, Amazon, and Apple. Now he's pounding the table on a new technology rolling out across America, which early estimates say could create more wealth than AI, the personal computer, and the smartphone combined. [Click here to see how it could become the No. 1 investment of the next decade](. Gold miners have had it rough for the past few years. Again, gold prices traded sideways from mid-2020 through most of 2023. But inflation and labor costs also soared. That made it hard to make money mining gold. We can see how that played out on a chart of the Sprott Gold Miners Fund (SGDM)... This exchange-traded fund ("ETF") holds the world's most important gold miners – like Barrick Gold (GOLD), Franco-Nevada (FNV), and Newmont (NEM). And as you can see in the chart below, gold miners have collectively suffered in recent years... You'll also notice that amid the larger downtrend, SGDM saw some ups and downs. And on the five-year price chart, the most recent move higher might not look all that inspiring. But don't let this fool you... This is the first uptrend we're seeing since gold prices moved significantly higher. It's obvious when we look at the five-year price chart of the SPDR Gold Shares (GLD) – the largest physically backed gold ETF in the world... You can see clearly that gold has made a major directional change after trading sideways. And that's what's currently driving gold miners higher. Combined with falling inflation, that means a massive tailwind. So it's no surprise that the Power Gauge sees big upside potential with SGDM. As you can see in the screenshot below, the ETF currently earns a "very bullish" rating in our system... In fact, 12 of the rated stocks in SGDM earn a "bullish" or better grade from the Power Gauge. Eleven are in "neutral" territory. And none earn a "bearish" or worse rating. Put simply, the Power Gauge sees a big opportunity with gold miners. And most importantly, the situation is different in the context of the past few years... Previously, uptrends in gold stocks required an extremely critical eye. After all, gold prices were stuck. But now, that has changed... Gold prices are soaring. And gold stocks are starting to soar, too. So if you're not already keeping a close eye on this segment of the market... I recommend you check it out. Good investing, Vic Lederman Market View Major Indexes and Notable Sectors # Hld: Bullish Neutral Bearish Dow 30 -0.01% 7 18 5 S&P 500 +0.67% 126 289 82 Nasdaq +0.95% 27 53 20 Small Caps +1.11% 508 999 389 Bonds +0.3% Communication Services +1.28% 3 14 2 — According to the Chaikin Power Bar, Small Cap stocks and Large Cap stocks are somewhat Bullish. Major indexes are all bullish. * * * * Sector Tracker Sector movement over the last 5 days Information Technology +1.59% Communication +0.41% Industrials -0.69% Materials -0.86% Utilities -1.16% Health Care -1.29% Staples -1.38% Discretionary -1.77% Financial -2.07% Real Estate -3.64% Energy -3.78% * * * * Industry Focus Software & Services 25 88 21 Over the past 6 months, the Software & Services subsector (XSW) has underperformed the S&P 500 by -4.28%. However, its Power Bar ratio, which measures future potential, is Strong, with more Bullish than Bearish stocks. It is currently ranked #13 of 21 subsectors. Top Stocks [rating] ACIW ACI Worldwide, Inc. [rating] OSPN OneSpan Inc. [rating] CVLT Commvault Systems, I * * * * Top Movers Gainers [rating] DECK +14.18% [rating] FSLR +10.78% [rating] GEV +9.75% [rating] ROST +7.79% [rating] ENPH +6.54% Losers [rating] INTU -8.35% [rating] DAY -7.63% [rating] ELV -4.14% [rating] EPAM -3.63% [rating] CNC -3.49% * * * * Earnings Report Reporting Today Rating Before Open After Close BBY, KR ADSK No earnings reporting today. Earnings Surprises [rating] BAH Booz Allen Hamilton Holding Corporation Q4 $1.33 Beat by $0.10 * * * * You have received this e-mail as part of your subscription to PowerFeed. If you no longer want to receive e-mails from PowerFeed, [click here](. You’re receiving this e-mail at {EMAIL}. For questions about your account or to speak with customer service, call [+1 (877) 697-6783 (U.S.)](tel:18776976783), 9 a.m. - 5 p.m. Eastern time or e-mail info@chaikinanalytics.com. Please note: The law prohibits us from giving personalized investment advice. © 2024 Chaikin Analytics, LLC. All rights reserved. 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