Thursday, 28 April 2016

GDX - continuing to push strongly higher

With precious metals on the climb, the related mining stocks similarly followed. The ETF of GDX of settled higher by a rather powerful 4.4% @ $24.26 - the highest level since Sept'2014. If Gold can push to the $1400/1500s this year... GDX is headed for the 35/40 zone - which will make for a 200% gain since the Dec'2015 low.

GDX, daily

GDX, monthly


With one trading day left of the month, the miners are set for another powerful net monthly gain of around 21%.

The precious metals look very strong, holding well above the breakout as achieved in February.

*If Gold 1400/1500s.. GDX should be in the $35/40 zone by late summer/early autumn.