Monday, 4 August 2014

GDX - just another day for the miners

With the broader equity market seeing moderate upside, and the precious metals a little weak, the miners saw some significant weakness. The ETF of GDX settled -1.2% @ $25.88. Near term outlook is bearish.

GDX, daily


Suffice to say, the miners are having issues...  not least with the precious metals having declined for the past 3 weeks.

*my mid term target is for Gold to test the giant $1000 threshold, and if that is the case, then the miners will be held back.