While U.S. and global stock markets cratered last week, the one lone winning port in the storm for investors was the precious metals mining sector. The benchmark Philadelphia Gold/Silver Stock Index (symbol XAU) actually posted a weekly gain of +5.20%! Most of the positive price action in this under-owned and generally hated group of stocks came on Friday (May 31st) following the Trump Administration's surprise announcement of potential tariffs on goods imported from Mexico.
A relatively rare monthly chart buy signal was triggered in my computer trading system yesterday (May 31st) in the closely-watched primary Gold ETF (symbol GLD). And a monthly chart buy signal was also triggered in the largest silver and gold streaming company Wheaton Precious Metals Corp (symbol WPM).
 |
| Gold ETF (GLD) Monthly Chart with Computer-generated Buy & Sell Signals |
 |
| Wheaton Precious Metals Co (WPM) Monthly Chart with Computer-generated Buy & Sell Signals |
Weekly chart buy signals were triggered in my computer trading system last week in the following major gold and silver mining shares and ETFs:
AG, AUY, GDXJ, GOLD, IAG, OCANF, PAAS, SIL, SILJ, and SLV
 |
| Junior Gold Miners Stock ETF Weekly Chart with Computer-generated Buy & Sell Signals |
 |
| First Majestic Corp (AG) Weekly Chart with Computer-generated Buy & Sell Signals |
 |
| Primary Silver ETF (SLV) Weekly Chart with Computer-generated Buy & Sell Signals |
Bottom line: Gold and Silver prices have entered the early stages of a major bull market. Before year-end 2019, Gold is projected to advance to $1,500/oz (+15% from current levels) while Silver is projected to advance to near $18.00/oz (+25% from current levels). Of course, if these two forecasts are accurate, then gold and silver mining shares can be expected to double and even triple over the next several quarters! In early 2016, this same kind of percentage rally in Gold and Silver prices triggered gains of more than 500% in many precious metals mining stocks in just seven months (see weekly chart of First Majestic)!!
