Palisade Research - Wed, Jul 18, 2018

This Is The Most Important Chart for Gold Investors to See Right Now

picture of two piles of gold coins on top of a stock chart

There's a lot of talk about the relative strength of gold stocks in the recent sell-off for gold.

But nothing sticks out quite like this. . .

The Direxion Daily Gold Miners Bull 3X Shares (NUGT) traded its entire market cap yesterday.

Yes, you read that correctly - its entire market cap in just one day.

Just look at the volume. . .

one-year line chart for (NUGT) Direxion Daily Gold Miners Index Bull 3X Shares ETF showing 14X volume today

That equates to $1.2 billion - or 14x the daily average. . .

One can only surmise that there was a massive buyer(s) in the mix. Otherwise, we could have expected the sector to fare far worse, on a day where gold dropped $14, to close at $1227.

Is this a classic bear trap - or will gold stocks soon play catch up?

Only time will tell, but yesterday's action in NUGT could be a very strong sign that the bottom is in. publishes interesting contributor articles in addition to its own content. We have not verified any of the above details.

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