QM Trades — Global Miners & Metals
Gold Miners +20% in Three Weeks — Deep Positive Reversal Cluster Confirms & Broadens
Gold Miners +20% in Three Weeks — Deep Positive Reversal Cluster Confirms & Broadens
12 August 2026 · Quantmatix Signal Intelligence
The Setup — The July Call Has Confirmed 🚀
Three weeks ago, the Quantmatix model identified the miners and metals complex at an extreme discount, with gold sitting around −9.4 to −9.7 across currencies and daily momentum turning higher ahead of the weekly trend.
That signal has now confirmed.
Across the 16 names highlighted in the July read, every stock is higher, producing an average gain of +15.7% and a median of +16.1%.
Gold miners have led the move:
+20% average | +19% median
B2Gold is up +29.6%, K92 Mining +27.5%, Equinox Gold +24.0% and Agnico Eagle +23.6%.
This is no longer simply a daily reversal.
The weekly signal has now confirmed.
Breadth Has Exploded Higher ⚡
The internal improvement is even more significant.
Weekly Advancing: 44% → 96%
Negative Reversals: 5 → 0
Deep Positive Reversals: 9 remain active
Only 16% of miners currently carry a positive Q Score, meaning the complex is still predominantly operating below zero while momentum accelerates.
👉 Confirmed, broadening — but not yet stretched.
Gold & Silver Remain the Engine 🥇
Gold, silver and their mining equities have delivered the strongest confirmation.
Spot gold now carries a confirmed positive reversal at Q −6.4.
Spot silver is at Q −5.6, also with a confirmed positive reversal.
Gold-miner and silver-miner ETFs have likewise confirmed positive reversals while remaining deeply negative on score.
The important change from July is that the weekly trend has now joined the daily signal.
The early reversal has become a broader trend signal.
The Move Is Broadening Beyond Precious Metals
The opportunity is no longer confined to gold and silver.
Copper, uranium, platinum-group metals and diversified miners are now participating.
Copper remains firmly positioned with the complex advancing.
Uranium miners are advancing with two Deep Positive Reversals active.
Diversified and base-metal exposure carries three Deep Positive Reversals.
Palladium — previously the main holdout — has now flipped from Declining to Advancing.
The exception is lithium, where scores remain deeply negative and breadth is less developed.
👉 This increasingly looks like a broad metals bid, rather than simply a gold trade.
The Current Deep Positive Reversal Cluster 🎯
Nine confirmed Deep Positive Reversals remain live:
AGI — Alamos Gold | Q −8.0
GLEN — Glencore | Q −7.4
Northam Platinum | Q −6.9
EQX — Equinox Gold | Q −6.6
UEC — Uranium Energy | Q −6.1
EDV — Endeavour Mining | Q −6.0
Pason Systems | Q −5.1
Ma’aden | Q −4.4
KGC — Kinross Gold | Q −4.1
The cluster has rotated deeper rather than disappearing.
As earlier names have moved higher and out of the deepest discount zone, new signals are appearing across gold, uranium, platinum and diversified metals.
Next to Turn 👀
The most interesting watch-list names remain those with deeply negative Q Scores that are already Advancing, but have yet to confirm a Deep Positive Reversal.
Tianqi Lithium | Q −9.1
Mineral Resources | Q −5.1
Royal Gold | Q −5.7
OceanaGold | Q −5.0
This is the same pattern that preceded several of the July winners.
If daily strength persists, these are candidates for the next wave of confirmed reversals.
Positioning — The Signal Has Moved Up a Gear
MAX OVERWEIGHT
Gold
Silver
OVERWEIGHT
Copper
Uranium
Diversified Metals
PGMs
NEUTRAL / POSITIVE
Steel & Iron Ore
NEUTRAL / NEGATIVE
Lithium
The key distinction is that this is not a chase-the-performance signal.
The model is still showing a predominantly negative score base, meaning the opportunity remains concentrated in areas where momentum is improving from depressed levels.
What Could Change the Read? ⚠️
The principal risk is that the advance becomes mature before the weekly trend can sustain its improvement.
Spot gold’s weekly mean remains roughly 5% below the current price. A weekly close back below that mean would weaken the current signal.
The other key transition is breadth moving from Advancing to majority-positive Q Scores.
That would mark a shift from an early-stage recovery into a more mature trend.
For now, we are not there.
Final Read — Confirmed, Broadening, Not Yet Spent ⚡
The July Quantmatix call has worked.
16/16 highlighted names are higher.
Gold miners: +20% average.
Breadth: 44% → 96% Advancing.
Negative reversals: 5 → 0.
Nine Deep Positive Reversals remain live.
Most importantly, the weekly trend has now confirmed what the daily signal identified in July.
Gold and silver remain the engine. Copper, uranium and PGMs are broadening the move. Lithium remains the laggard.
👉 The complex has moved from reversal to confirmation — but with only 16% of miners above a positive Q Score, the model still does not see a mature or exhausted trend.
The signal remains constructive: stay concentrated in the confirmed reversal cluster and watch the deeply discounted Advancing names for the next wave.
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