On May 2, 2025 research indicated gold was in a position that was similar to where it was on November 4, 2010. Since that time the Gold Miners Bullish Percentage Index ($BPDGM) hit a peak reading of 100 on August 8, 2025. This is similar to what occurred on July 1, 2016 and July 2, 2020. Both dates were followed by a consolidation period in gold. It appears Market Makers have run out of buyers in products such as the GDX, and another consolidation period is expected to begin.
Note that this information is for educational purposes only and not a recommendation.
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