Gold And Mining Stocks Up As S&P Declines

Gold has been behaving inversely to stocks this year, as shown on the chart. This is also the textbook way that gold should behave. While no predictions are being made regarding the breakout of the major triangle above, in the short term, Gold should continue on its upward trajectory towards the top of the triangle. This theory is supported by the continued sell off in stocks, which is likely to continue in the short to near term. This is also supported by the major rally in precious metal and mining stocks, many of which have seen double digit gains in the last two months, just as the S&P 500 began to crash.

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Trade was correct