Last time I published my views on gold was on November 24th, 2016. Gold, silver and in general, the whole mining sector was under great pressure since 2016 US elections. Gold kept trading lower until it reached US$1124 on December 14th, 2016. Like many of those in the bullish camp in the mining sector, I was also questioning my belief in the gold and silver mining sector. I stayed bullish, though it was hard as has always been to digest the sharp decline in my mining stock portfolio.
I am happy again in 2017 as my gold mining stocks have have gained 22% since December 20th, 2016. The lithium stocks portfolio is up by 16%, silver stocks are up by 24%. As of today, January 12th 2017, Gold has touched the $1200 mark and needs to hold this important level for further upward move.
I am watching the price movements closely as precious metals experts like Michael Ballangerare are still expecting a final flush in the mining sector like happened in January 2016.
- I am also going to analyze other mining sectors like uranium and will post my opinions/findings later.