GDX - the slide resumes

Whilst equities closed with moderate gains, with the FOMC announcement out of the way, the metals resumed the downside trend, which naturally pressured the miners. The ETF of GDX settled lower by a rather significant -2.2% @ $23.47.


GDX, daily

Summary

Suffice to say... weak metal prices are going to keep the downward pressure on the miners, regardless of however strong the broader equity market might be.

GDX looks set to lose the $20 threshold.. at some point in the remainder of this year.