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Is 11-Year Cycle Signaling Gold and Silver Miners Rally?

By Chris KimbleCommoditiesSep 20, 2023 21:05

ng.investing.com/analysis/is-11year-cycle-signaling-gold-and-silver-miners-rally-182467

Is 11-Year Cycle Signaling Gold and Silver Miners Rally?

By Chris Kimble | Sep 20, 2023 21:05

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XAU/USD

+1.71%

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XAG/USD

+0.55%

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Gold

+1.61%

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Silver

+0.98%

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US500

+0.41%

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The price of gold is trading just off its all-time high while the price of silver is lagging. Together, they haven’t quite provided mining equities the boost they need to outperform the broad market.

But an 11-year cycle may be saying that gold and silver mining stocks are ready to rise again.

Gold & Silver Vs S&P 500-Weekly Chart

Gold & Silver Vs S&P 500-Weekly Chart

Today, we take a look at the performance of the Gold and Silver Miners Index (XAU) versus the S&P 500 Index by charting its performance ratio since 1990. The ratio is comprised of the $XAU Precious Metals Index / $SPX S&P 500 Index.

As you can see, since 1990 the ratio appears to be working on 11-year trends/cycles.

The latest cycle of underperformance has come to an end and the ratio is trying to hold near-term support.

Time for $XAU and gold and silver mining stocks to start outperforming again? Stay tuned.

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