Wednesday, 15 June 2016

GDX - underlying strength

With the Fed not raising rates, Gold swung back upward, with the related mining stocks seeing a rather powerful wave of renewed buying interests. The ETF of GDX settled +3.5% @ $26.23. A break into the $30s looks due this summer... and eventually to 35/40.. if Gold 1400/1500s.

GDX, daily

GDX, monthly


Little to add.

With the Fed showing outright weakness - by refraining to raise rates, the precious metals caught a bid, with miners the sector highlight of the day.