The gold miner bull market is broadening: Currently, 100% of gold miner stocks in the NYSE Arca Gold Miners Index are trading above their 200-day moving average. This matches previous peaks seen during the 2020 pandemic and in 2016. This year, the Gold Miners Index has rallied +123%, putting it on track for its best annual performance this century. As a result, the index’s performance relative to the S&P 500 has surged to its highest level since 2020. Gold miner stocks are experiencing a historic run.(The Kobeissi Letter)