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Brien Lundin: As gold rises, mining shares are showing leverage to the price

Section: Daily Dispatches

By Brien Lundin
Gold Newsletter / Golden Opportunities
Metairie, Louisiana
Monday, January 9, 2023

In a Golden Opportunities letter last week, I resorted to my oft-used "Happy New Year" headline to highlight yet another early-year gold rally.

As I noted in that issue, gold often bottoms in mid-December and continues to rally well into a new year.

It doesn't always happen that way, of course, but this year it has played out largely to script. The big difference this year is that gold didn't decline into December but bottomed in early November.

... Dispatch continues below ...


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In fact, gold is up fully $200 since the lows in early November. This is a great thing but, as I also noted last week, you wouldn't know it from the dour outlooks being professed by gold bugs in every corner of the internet.

Moreover, many of these gold watchers are bemoaning the fact that, even if gold has been climbing, the gold stocks have refused to respond. 

But nothing could be further from the truth. ...

... For the remainder of the analysis:

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