As 2020 is wrapping up, investors are trying to narrow down the target for gold’s bottom in the coming weeks. And as the yellow metal is experiencing what appears to be its worst month in the past four years, the Gold Miners Bullish Percent Index ($BPGDM) once again provides us with some key insights into reading the bearish signals for the precious metals. Last week, the BPGDM showed the highest possible overbought reading. {chart} The excessive bullishness was present at the 2016 top as well and it didn’t cause the situation to be any less bearish in reality. All markets periodically get ahead of themselves ... (full story)