With precious metals closing net higher for the second consecutive day, the mining stocks were similarly on the rise. The ETF of GDX settled higher by a significant 2.4% @ $20.78. Near term outlook is mixed, as the broader trend in the metals remains weak.
Despite the current gains, the miners - along with the precious metals, remain relatively close to the lows from last November.
*under no fair outlook can I see Gold having put in a key multi-year floor @ $1130. My target remains the $1000 threshold, and if that is eventually hit, then the miners will be at least somewhat lower than current levels.
For the moment, I remain content to watch the miners, and have no interest in going long until late summer/early autumn.