The gold miner ETF of GDX saw a
net July gain of +$3.99 (11.8%) to $37.92, especially helped by higher gold.
GDX, monthly
Summary
The collective of miners were powerfully higher, helped by gold, and the positive main market.
I
would note the 10MA at $31.56, which was settled above.
Four of the key miners...
Newmont (NEM)
Newmont saw a net July gain of +$7.20 (17.2%) to $49.07. I
would note the monthly 10MA at $39.06, which was settled above. Monthly
momentum ticked upward, and is increasingly positive. Next resistance is psy' $50, and then the Jan'2023 $56s.
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Barrick Gold (GOLD)
Barrick settled +$1.85 (11.1%) to $18.53. Momentum is ticking upward,
if remaining fractionally positive. Things turn interesting with a monthly close >psy' $20.
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First Majestic Silver (AG)
A net July gain of +$0.26 (4.4%) to $6.18, on higher vol' of 108M. Momentum is flat-lining, if remaining marginally positive. Big target are the $9s, and then the $18s.
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Pan American Silver (PAAS)
A net July gain of +$3.13 (15.7%) to $23.01, on lower vol' of 73M. Momentum ticked upward, and is on the moderately high side. Big target are the $28s
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Of the four, yours truly favours NEM, which has less of a copper component than Barrick.
For more of the same...
