Chart of the Day: My Favorite Diplomat
Gold miners have been on a historic uptrend for the past seven months and this is my current favorite.
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You can scan the entire universe of gold and silver miners and find practically every single chart is bullish. Makes sense really, as gold is well over $5,000 per ounce while silver is also in record territory (or has been).
Gold miner stocks sometimes hedge their positions with dollars but most of them remain unhedged, which means their stock moves with the price of the metal.
As you would expect, a name like Equinox Gold (EQX) is generally unhedged and will fully appreciate on the spot gold price. We added the name along with five others last month to our EPS Diplomats basket, and the stock has not disappointed.
The candles are blue, indicating "strong buy" on the GoNoGo composite of indicators. Momentum is very strong; look at the stochastics (pane 4) as this is just ramping up. Money flow is positive and the MACD just turned up for another buy signal.
We might infer that "as gold goes, so go the miners." That would be correct, and if the metal continues onward to new heights look for Equinox to follow. So far in 2026 the stock is up by more than 20%.
As a member of the EPS Diplomats Equinox does not have a rating.
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At the time of publication, TheStreet Pro Portfolio was long EQX.
