The gold miner ETF of GDX ended the week on a weak note, -1.5% at $22.31, but that still resulted in a net weekly gain of 0.5%. Near term outlook is offering further broad chop. Things will only turn decisively bullish for the miners, with Gold >$1400.
Suffice to add, a moderately net weekly gain, but broadly... it remains chop since early 2017.
Partly based on m/t bullish trends in copper and oil, I'm still leaning on an eventual bullish breakout in gold >$1400. For now though, there is ZERO sign of that happening any time soon, not least with a stronger USD, and rising bond yields. The more cautious will leave the mining sector alone until gold >1400 and/or GDX >26s.
Arguably, the two best miners...
Newmont Mining (NEM)
Barrick Gold (ABX)
NEM and ABX remain the two biggest components of GDX. I like both, but the latter remains technically m/t bullish, until it clears the >16.00.