Friday, July 01, 2005

Serious Buying of Weakness

Today, despite **big** hits to gold and silver, the HUI (AMEX gold bugs index) closed up about .25%. This is serious buying of serious weakness in gold and silver. Amazing! This is the second time recently that this has happened, and confirms the really good move up the shares had Wednesday.

It is as if somebody knows something quite bullish about the precious metals in the near future (weeks) that we do not know.

Despite gold closing down for the week, the HUI closed up for the week. The shares are signaling the beginning of phase 2 of the gold and silver bull markets.

No comments: