Gold, Miners Poised For Year-End Rally (And Beyond)

Published 12/17/2015, 12:25 AM
Updated 07/09/2023, 06:31 AM
XAU/USD
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US500
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GC
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GDX
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A sea of green across U.S. equity markets yesterday:

S&P 500 Heat Map

SPX Heat Map

Perhaps most interesting was that gold miners (Market Vectors Gold Miners (N:GDX)) rallied nearly 4% as Gold added $17/ounce:

GDX (Daily)

GDX Daily

GDX has spent the second half of 2015 repeatedly testing support in the $13-$14 area. Given that the ‘bad news’ is out—the Fed raised rates—one has to wonder if the goldies are set up perfectly for a year-end relief rally that could last well into the new year.

Seasonality is also quite favorable for gold through mid-January:

Gold Seasonality_1979-2012

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