Gold Bugs Index on 10-year Support ... A Must Hold!

August 8th, 2013

by Chris Kimble

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Its been a rough couple of years for the Gold Bugs index (HUI), as its lost almost two-thirds of its value. The large decline has driven the Gold Bugs index, on a monthly basis, down to dual long-term support lines. See the chart below.

Support is support until broken!

If this support fails to hold for the Gold Bugs index, the next support line is a long way down!

Metals members harvested gains of late in metals stocks and have no position at this time (see post here).

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