GDX - just another down day for the miners

Despite higher Gold/Silver prices, the miners were hit by broader equity market weakness. The ETF of GDX settled significantly lower, -3.4% @ $20.43. which is now just 1% from breaking the 2013 low.


GDX, daily

Summary

Little to add.

Gold/Silver miners continue to decline... almost everything is going against them.

GDX looks set to lose the $20 threshold... and seems headed for $15... perhaps even $10.... if you consider Gold will eventually see a key multi-year floor of @ $1000/900s next year.