🚨Gold Miners Are Still Bearish - Chris Vermeulen Warns #shorts
Sprott Money Aug 8, 2026
Summary
Gold miners remain in a strong technical downtrend despite a brief short-term momentum signal from a 5-day/20-day moving average crossover.
Chris Vermeulen argues the 50-day moving average still slopes downward, confirming bearish pressure outweighs any near-term bounce.
Traders watching for short-term pops can use shorter moving average crossovers even within broader bearish trends, per Vermeulen.
The discussion focuses purely on technical signals — moving averages filter out fundamentals and emotions to reveal the underlying trend.
Chris Vermeulen's takeaways
- Top takeaway Vermeulen argues gold miners are still technically in a bear market, with the long-term trend sloping down and price trading below key moving averages as of the August 2026 clip
- He emphasizes the 50-day moving average is sloping down with the 20-day below it, which he reads as confirmation of a strong, ongoing downtrend in the gold miners space
- He flags a small bullish crossover signal: the 5-day moving average has just crossed above the 20-day line
- He suggests this short-term trigger could set up a quick upside pop for momentum traders, even while the broader trend remains bearish