Monday, 20 July 2015

GDX - mining stocks implode

With Gold decisively breaking the Nov' 2014 low of $1130, the Gold miners saw rather extreme falls to begin the week. The ETF of GDX broke the Oct' 2008 low, settling -10.8% @ $13.76. Regardless of any minor bounces, Gold looks set for the giant $1000 threshold, which will likely equate to 12/10 for GDX.

GDX, daily

GDX, monthly


Little to add.

Gold/Silver have nothing but empty air below.. with Gold set to fall to 1K, and that will likely knock another 20/25% off most of the Gold/Silver related mining stocks.