Real gold bull market still far away .....The Gold Stocks have fallen from grace fairly hard. This is what is actually necessary for the rally to continue into the 2017 to 2020 area. Supply must be reduced. As marginal mines shut down or slow production, this helps to reduce future supply. It will take a steady rise in prices to new highs before a lot become convinced to start-up again. Adjusted for inflation, the 1980 high is about $2300. That is the general level that must be exceeded before a real bull market unfolds.
For now, please stay away, save your hard earned $ and wait !!
1980 highs will be tested again (850 $/OZ.) starting the real BULL MARKET !!!!
HUI should go as low as 100 points or less