Richard Russell has made his subscribers fortunes. One of the best values anywhere in the financial world at only a $300 subscription to get his DAILY report for a year. HERE to subscribe. Amongst his achievements Richard was in cash before the 2008/2009 Crash and he has been Bullish Gold since below $300

Ed Note: Richard Russell is bullish Silver and holds one of the largest single positions he has held since the 1950’s in the precious metals.

The gold shares have been lagging bullion. The gold shares tend to have leverage, and for this reason the sensitive mining stocks often lead bullion. So far, the action of the miners has been disappointing compared with the action of bullion.

This may be about to change. The chart below shows GDX (mining stocks) in a relative strength study against GLD (bullion). The ratio is now turning up in favor of the mining stocks. This should be bullish for the whole universe of gold.

Two leading gold mining shares that I watch are now acting bullishly. ABX and NEM have both crossed above their 50-day and 200-day moving averages. This too is bullish for gold. In time, the big gold mining shares will be taking over some of the smaller miners, in order to increase their reserves.