Tuesday, 22 September 2015

GDX - falling with Gold

With the precious metals under renewed dollar pressure, the mining stocks were on the slide. The ETF of GDX settled -4.6% @ $13.36. Near/mid term outlook remains bearish, with GDX likely to trade to the $11/10s before year end.

GDX, daily

GDX, monthly


Little to add.

It remains the case that regardless of the broader market, if the precious metals are lower, the related mining stocks will follow.