Choppy month for the miners

The gold miner ETF of GDX saw a net July decline of -$0.42 (0.8%) to $51.64

GDX, monthly 

Summary

The collective of miners broke a new multi-year high of $54.78, if cooling back to settle at $51.64. I would note the 10MA at $43.90, which was settled above, as the m/t trend remains bullish.
-

Four of the key miners...

Agnico Eagle Mines (AEM)

 

Agnico printed a new hist' high of $129.77, with a July gain of +$5.43 (4.6%) to $124.46. Monthly momentum ticked lower for a second month, but remains on the very high side. Vol' was a little lower at 54M.
-- 

Newmont (NEM) 

 

Newmont saw a July gain of +$3.84 (6.6%) to $62.10. I would note the monthly 10MA at $48.12, which was settled above. Monthly momentum ticked upward for a fifth month. Vol' picked up a little to 274M.
--

Barrick Mining (B)

 

Barrick saw a net July gain of +$0.30 (1.4%) to $21.12, the highest monthly settlement since March 2022. Momentum ticked a little higher, and is moderately positive. Vol' was a considerably lighter 222M
--

Pan American Silver (PAAS)

 

Pan American Silver printed a new cycle high of $31.03, but saw a net July decline of -$1.38 (4.9%) to $27.02, on lower vol' of 103M. Momentum ticked back lower, if remaining on the moderately high side.
--

Of the four, yours truly favours Agnico Eagle Mines, which has been the sector leader for over a year. The primary concern should be if the broader equity market is net lower into October, the miners will struggle... even if gold and/or silver continue to climb.

For more of the same... 

Subscription details >>> https://www.tradingsunset.com

Half a year of upside

The gold miner ETF of GDX saw a net June gain of +$1.41 (2.8%) to $52.06

GDX, monthly 

Summary

The collective of miners climbed for a sixth consecutive month. GDX printing $54.70 - the highest since Nov'2011, if cooling to settle at $52.06. I would note the 10MA at $42.67, which was settled above, as the m/t trend remains bullish.
-

Four of the key miners...

Agnico Eagle Mines (AEM)

 

Agnico printed a new hist' high of $126.65, with a June gain of +$0.94 (0.8%) to $118.93. Monthly momentum ticked back lower, but remains on the very high side. Vol' was lower at 57M.
-- 

Newmont (NEM) 

 

Newmont saw a June gain of +$5.54 (10.5%) to $58.26. I would note the monthly 10MA at $47.17, which was settled above. Monthly momentum ticked upward for a fourth month. Vol' remained elevated at 254M.
--

Barrick Mining (B)

Barrick saw a net June gain of +$1.66 (8.7%) to $20.82, the highest monthly settlement since March 2022. Momentum ticked a little higher, and is moderately positive. Vol' was a little lighter at 337M
--

Pan American Silver (PAAS)

 

Pan American Silver saw a net June gain of +$4.01 (16.4%) to $28.40, on sustained high vol' of 124M. Momentum ticked back upward, if remaining on the moderately high side.
--

Of the four, yours truly favours Agnico Eagle Mines, which has been the sector leader over a year. The primary concern should be if the broader equity market is net lower into October, the miners will struggle... even if gold and/or silver continue to climb.

For more of the same... 

 

 

Subscription details >>> https://www.tradingsunset.com

Month five for the miners

The gold miner ETF of GDX saw a net May gain of +$1.64 (3.3%) to $50.65.

GDX, monthly 

 

Summary

The collective of miners climbed for a fifth consecutive month. GDX printed $45.10, but settling at $50.65, the highest monthly settlement since Nov'2011. I would note the 10MA at $41.28, which was settled above, as the m/t trend remains bullish.
-

Four of the key miners...

Newmont (NEM)

Newmont saw a May gain of +$0.29 (0.5%) to $52.72. I would note the monthly 10MA at $46.57, which was settled above. Monthly momentum ticked upward for a third month. Vol' was lower, if still a heavy 255M
--

Barrick Mining (B)

 
Barrick saw a net May gain of +$0.22 (1.2%) to $19.16. Momentum ticked a little higher, and remains marginally positive.
--

First Majestic Silver (AG) 

First Majestic Silver settled -$0.09 (1.4%) to $6.17, on record vol' of 456M. I'd keep in mind that volume has been so much higher because of the recent merger with Gatos Silver. Momentum continues to flat-line on the marginally positive side.

--

Pan American Silver (PAAS)

 

Pan American Silver saw a net May decline of -$0.68 (2.7%) to $24.39, on higher vol' of 126M. Momentum ticking lower, if remaining on the moderately high side.
--

Of the four, yours truly favours Newmont, which has less of a copper component than Barrick. However, the concern should be the main market. If the broader equity market is net lower into October, the miners will struggle... even if gold continues to climb.

For more of the same...

Subscription details >>> https://www.tradingsunset.com