Miners higher with gold

The gold miner ETF of GDX saw a net February gain of +$0.76 (1.9%) to $39.72, largely helped by gold printing a new hist' high of $2974.00

GDX, monthly 

Summary

The collective of miners climbed for a second consecutive month. I would note the 10MA at $37.31, which was settled above, as the s/t trend is bullish.
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Four of the key miners...

Newmont (NEM)

Newmont saw a February high of $48.23, if cooling back to settle +$0.12 (0.3%) to $42.84. I would note the monthly 10MA at $44.71, which was settled beneath. Monthly momentum ticked lower for a fifth month, but is leveling out.
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Barrick Gold (GOLD)

Barrick saw a net February gain of +$1.47 (9.0%) to $17.75. Momentum ticked a little higher, and is fractionally positive. After some drama, the company and CEO Bristow have reached an agreement with the Mali regime. 
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First Majestic Silver (AG) 

First Majestic Silver saw a net February decline of -$0.32 (5.7%) to $5.37, on record vol' of 389M. Vol' was skewed due to the recently finalised merger with Gatos Silver. Momentum ticked a little lower, if remaining marginally positive.

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Pan American Silver (PAAS)

Pan American Silver saw a net February gain of +$0.62 (2.7%) to $23.83, on marginally higher vol' of 63M. Momentum remains on the moderately high side.
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Of the four, yours truly favours Newmont, which has less of a copper component than Barrick.

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Miners digging upward

The gold miner ETF of GDX saw a net January gain of +$5.05 (14.9%) to $38.96, helped by gold/silver, and the main market.

GDX, monthly 

Summary

The collective of miners started the year on a powerfully bullish note. I would note the 10MA at $36.62, which was settled back above, as the s/t trend is back to bullish.
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Four of the key miners...

Newmont (NEM)

Newmont rebounded with the sector, a net January gain of +$5.50 (14.9%) to $42.72. I would note the monthly 10MA at $44.42, which was settled beneath. Monthly momentum ticked lower for a fourth month, but is leveling out.
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Barrick Gold (GOLD)

Barrick saw a net January gain of +$0.87 (5.6%) to $16.37. Momentum ticked lower for a fourth month, and will likely turn negative as of Feb'3rd. The company and CEO Bristow are mired in problems with the Mali regime. 
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First Majestic Silver (AG) 

First Majestic Silver saw a net January gain of +$0.21 (3.8%) to $5.70, on record vol' of 339M. Vol' was skewed due to the finalised merger with Gatos Silver. Momentum ticked a little lower, if remaining marginally positive.

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Pan American Silver (PAAS)

 

Pan American Silver saw a net January gain of +$2.99 (14.8%) to $23.21, on relatively low vol' of 55.7M. Momentum remaining on the moderately high side.
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Of the four, yours truly favours Newmont, which has less of a copper component than Barrick.

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Miners fall into year end

The gold miner ETF of GDX saw a net December decline of -$3.31 (8.9%) to $33.91, dragged down by gold/silver, and the main market.

GDX, monthly 

Summary

The collective of miners dug lower for a second consecutive month. I would note the 10MA at $35.84, which was settled under, as the m/t bullish trend has been broken. 

The ultimate concern should be if (or rather... when) the main market puts in a mid/long term top, gold/silver, and the related miners will be prone to being dragged lower.
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Four of the key miners...

Newmont (NEM)

Newmont fell for a third month, a net December decline of -$4.72 (11.2%) to $37.22. I would note the monthly 10MA at $43.67, which was settled beneath. Monthly momentum ticked lower for a third month, and is prone to turning negative by Feb'3rd.
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Barrick Gold (GOLD)

Barrick fell for a fourth month, a net December decline of -$1.99 (11.4%) to $15.50. Momentum ticked lower for a third month, and will likely turn negative as of January 2nd.
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First Majestic Silver (AG) 

First Majestic fell for a second month, a net December decline of -$0.62 (10.1%) to $5.49, on high vol' of 193M. Momentum ticked a little lower, and prone to turning negative by early Feb'. The effective merger with Gatos Silver (GATO) is due to be finalised within Q1 2025.

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Pan American Silver (PAAS)

Pan American fell for a second month, a net December decline of -$1.75 (8.0%) to $20.22, on lower vol' of 56M. Momentum ticked a little lower, if remaining on the moderately high side. December's candle is bearish engulfing, with an upper spike... reflective of tired miner bulls.
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Of the four, yours truly favours NEM, which has less of a copper component than Barrick.

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