from Gold Silver Worlds:
Since this year’s bottom on May 28th, gold and silver miners are up approximately 20%, as measured by gold mining indexes like GDX and HUI. The GDX bottomed at 22.04 and closed today at 26.90, while the HUI bottomed at 203.50 and closed today’s trading session at 242.78.
But what is happening in the big picture? The following chart gives a very good understand of the larger trend in play. It shows the gold miners index (HUI) in red and the S&P500 in blue over the last ten years.
Since September 2012, both indexes decoupled from each other, although they had been positively correlated up until then. What’s more, since the fall of 2012, both indexes have gone in one direction. As a result, the disconnect between both is huge.
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