GDX - miners still broadly struggling

With the USD continuing to climb, the precious metals were unable to hold early moderate gains, with Gold settling -$7, and Silver -1.5%. The related mining stocks were naturally under pressure, with the ETF of GDX  -2.4% @ $21.31. Near/mid term outlook is bearish.


GDX, daily

GDX, monthly

Summary

Strong USD > weak metals > weak miners.

Its really that simple.

Considering the USD is now sustainably trading above the giant DXY 100 threshold, the mid/long term outlook for Gold/Silver - and by default.. the related miners, is increasingly bearish.