With Gold and Silver prices seeing powerful gains across February, it is no surprise to see the gold mining stocks on the rise. Across the month, the ETF of GDX gained an impressive 10.3%, settling @ $25.91, back to the levels last seen in Sept'2013.
So, the second consecutive monthly gain for the miners, but..we've seen this picture before - July/Aug' 2013, and Aug/Sept 2012. On both occasions, it didn't end well, did it?
My concern remains that the precious metals have not yet put in a key multi-year low. I'm still highly suspicious that Mr Market will want to wash out the $1000 Gold holders. before a grand new multi-year rally can begin.
*if the main market rolls over late spring/early summer, the Gold miners will surely join the party to the downside.