The gold miner ETF of GDX saw a net June gain of +$1.41 (2.8%) to
$52.06
GDX, monthly
Summary
The collective of miners climbed for a sixth consecutive month. GDX printing $54.70 - the highest since Nov'2011, if cooling to settle at $52.06. I
would note the 10MA at $42.67, which was settled above, as the m/t
trend remains bullish.
-
Four of the key miners...
Agnico Eagle Mines (AEM)
Agnico printed a new hist' high of $126.65, with a June gain of +$0.94 (0.8%) to $118.93. Monthly momentum ticked back lower, but remains on the very high side. Vol' was lower at 57M.
--
Newmont (NEM)
Newmont saw a June gain of +$5.54 (10.5%) to $58.26. I
would note the monthly 10MA at $47.17, which was settled above. Monthly
momentum ticked upward for a fourth month. Vol' remained elevated at 254M.
--
Barrick Mining (B)
Barrick saw a net June gain of +$1.66 (8.7%) to $20.82, the highest monthly settlement since March 2022. Momentum
ticked a little higher, and is moderately positive. Vol' was a little lighter at 337M
--
Pan American Silver (PAAS)
Pan American Silver saw a net June gain of +$4.01 (16.4%) to
$28.40, on sustained high vol' of 124M. Momentum ticked back upward, if remaining on the
moderately high
side.
--
Of
the four, yours truly favours Agnico Eagle Mines, which has been the sector leader over a year. The primary concern should be if the broader equity market is net lower into October, the miners will
struggle... even if gold and/or silver continue to climb.
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