Monday, 20 January 2014

Miners reviving

Broad stock markets are hesitating after the December rally. Over the week Nasdaq holds on to a tiny gain but the S&P couldn't keep up. Precious metals seem to be floating with the tide: both gold and silver were retreating, but rally back on Friday to end the week up marginally. Gold ends at $1254, (+0.44% over the week) while silver closes at $20.32, (up 0.74%).

Over most of 2013, poor precious metal gains and broad stock markets hesitating, would have sent miners sliding. However a different mantra seems to have taken the lead. The HUI index added 3.47% over the week, making HUI/Gold appreciate to 0.173. Whereas this is hardly something to be proud on (comparing where we started 2013), it's definitely up since the December 2013 low. It's not that most miners suddenly have turned highly profitable, but rather that investors simply are fed up with the doom scenario.

Friday, 3 January 2014

Hui mining index relative to gold

A happy and prosperous 2014 to all readers.

Two gold miner bear markets compared

A very long term graph of the HUI gold miners index naturally goes together with a historic view of the gold price. The Yahoo data series for the HUI index starts off in 1996.