Is the tide in gold about to turn?

After a two-year correction that has sapped the strength and will of goldbugs, is the tide in gold equities about to change? The new upsurge in goldshares has been mooted for a long time and in each instance the rises proved fleeting and false, only for the correction to rumble on longer. The angst for gold and silver bugs has lasted longer than any previous correction in this bull market. It's only when the hardiest goldbugs have been tested to the nth degree that the tide turns; it changes slowly at first and then with a great gush it comes in.

Several technical commentators think that for cyclical and technical reasons we are very close to an important rise in gold equities and gold itself. Posters such as Cyclist of Gold Action on Kitco and Goldrunner, who also posts as Nelderand, think that we could see that rise between next week running into the third week of June.

Options expiry ends on Friday in New York. That has sapped the life out of gold equities. Next week will tell the tale.