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Precious Metals and Miners Ready to Rally
In gold futures, we were looking for a correction to around $1940 an ounce. The June contract fell to $1932. Now, it closed on the exchange at $1958. Plus, it had a new 60-day low and potential reversal pattern. The Gold ETF (GLD) has begun this week trading inside the range of Friday, and with a very narrow trading range at that. That means a pause and uncertainty. Our Real Motion Indicator shows support at its blueline or 50-DMA. Does that mean it's time to get in, or, if already in, to buy more? chart The Gold Miners ETF (GDX) is a holding in 2 of our quant models: Sector Rotation and GEMS. Sector Rotation ... (full story)