Friday, 31 July 2015

GDX - A month of horror for the miners

With precious metal prices taking out the Nov'2014 lows, the related mining stocks were crushed. The ETF of GDX, saw a net monthly decline of -22.6% to $13.75. With Gold set to continue lower to $1000.. if not the 900/875 zone, most mining stocks are still set to fall another 20/25% before year end.

GDX, monthly

GDX, daily


Little to add.

The horror story for the precious metal mining stocks continues. We're now into the fifth year of a decline, which  has seen most mining stocks collapse around 85/90%.

For the moment.. even at these levels, there seems zero reason to be picking up a 'life time bargain'... not least as USD is set to resume higher (>DXY 100).. with the metals set to continue falling.