The GDXJ, prior to this pullback, was up 92% for the year. A nice pull back with some profit taking is good, and part of a normal bull market.
Money is coming back into the sector, and institutions who missed the move from January to May are not going to miss the next leg up and are participating in financings across the precious metals industry.
Looking at a 1-year gold chart or a comparison to previous gold bull markets, we are in very good shape here.
The GDXJ suggests strong support at the $19 area, which means we could be looking at a 15% decline from here. However, we don’t think that’s going to happen.
We expect see-sawing until June 15th, and then a resumption of the uptrend.
On Wednesday, we introduced you to K92 Mining.This stock is going to be a darling in the junior resource space very quickly.
K92 Mining has received a U.S. symbol: KNTNF.
It will still take a few weeks for them to be traded on the OTCQX. However, for those looking for a long-term strategic position into K92 Mining, you can now buy shares with a U.S. broker using the KNTNF symbol.
Already, other letters and blogs are picking it up, and we expect this stock suggestion to make it to all the top newsletters and resource analysts over the coming weeks and months.
We strongly suggest our members consider buying shares.
K92 Mining (TSXV: KNT & US: KNTNF) will soon begin gold production and is expected to be a mid-tier producer within 12 months.
The exploration potential is also enormous and is the main reason Barrick Gold had originally purchased the property.
Truly, this is a must for gold investors’ portfolios, in our opinion.
Best Regards, Daniel Ameduri
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