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Gold Mining Stocks Break Out!

Gold broke the $1330 mark on strong volume and the expectation from a technical standpoint is for a breakout above $1350, which is the level where it topped out early last year (see chart).  There were multiple breakout attempts in 2018, but the recent pullback in the dollar and the Fed’s recent rate pause might be enough to push prices over $1400. This is ideal for mining stocks, a sector that is seriously undervalued and due for a breakout of its own.

Long EGO and HMY.

Gold

 

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