The XAU, HUI, etc.....have all been up despite gold moving a little lower recently. Here's a very good chart! SMF069

Gold Miners and Explorers Wake Up

Sean Brodrick

October 31, 2012

Gold miners are starting to outperform again. As Bloomberg News says: “Barrick Gold Corp (ABX: 40.59 +1.41 +3.60%) and other bullion producers are climbing from 28-year lows relative to the metal as they tame costs, raise cash flow and beat profit estimates.”

It’s noticeable in the large-cap miners – I’m getting buy signals all over the place. And It’s also noticeable in the junior miners and silver miner. Even the explorers are looking better, and they’ve been pounded into the dirt. Take a look at a chart of the Global X Explorers ETF (GLDX: 8.75 +0.1705 +1.99%) divided by the price of gold …

You can see that this ratio was in a downtrend for a long, long time as GLDX underperformed gold. Now, the tide seems to have shifted.