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Will Gold and Silver Stocks Follow the General Stock Market?

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The outlook for juniors and silver stocks looks quite favorable relative to gold stocks based on Thursday's and Friday's closing prices.

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Finally, let's have a look at the whole senior mining stocks sector with Market Vectors Gold Miners ETF (NYSEARCA:GDX) as a proxy.



In the GDX ETF short-term chart, the price declined on significant volume. Prices did not move below the previously broken resistance line, however – at least not yet. The situation was not that bearish based on Thursday's closing prices, and it didn't really deteriorate on Friday as the miners actually closed higher – compared to the huge decline seen in gold before the markets opened and its final close lower that day.

Summing up, the general stock market looks ready to move higher, which could help gold, silver, and other precious metals rally as well. The outlook for juniors and silver stocks looks quite favorable relative to gold stocks based on Thursday's and Friday's closing prices, but as far as performance of the whole mining stock sector for the short-term is concerned, the picture is still bullish. So, to answer the title question, precious metals mining stocks seem poised to move higher, but an additional spark may be needed for them to start a bigger rally.

Thank you for reading. Have a great and profitable week!

For the full version of this essay and more, visit Sunshine Profits' website.

Twitter: @SunshineProfits
No positions in stocks mentioned.
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