Saturday, July 9, 2011

PM miners beat PMs (a refreshing change)

This chart shows that:
1) GDX (the gold miners) beat GLD (gold the metal) by about a point last week

2) GDXJ (the junior gold miners) stayed lockstep with wild man SLV (silver the metal) in the same period, with both giving you the beta you'd require from the extra risk.

Your humble scribe is encouraged by the action of the last five days.