The gold miner ETF of GDX saw a net March gain of +$6.25 (15.7%) to
$45.97.
GDX, monthly
Summary
The collective of miners climbed for a third consecutive month. GDX printed $46.94, the highest since Oct'2012. I
would note the 10MA at $38.42, which was settled above, as the m/t trend is bullish.
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Four of the key miners...
Newmont (NEM)
Newmont saw a March gain of +$5.69 (13.4%) to $42.84. I
would note the monthly 10MA at $45.17, which was settled above. Monthly
momentum ticked back upward.
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Barrick Gold (GOLD)
Barrick saw a net March gain of +$1.69 (9.5%) to $19.44. Momentum
ticked a little higher, and is fractionally positive.
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First Majestic Silver (AG)
First Majestic Silver saw a low of $5.09, but swung upward to settle +$1.32 (24.6%) to
$6.69, on record vol' of 436M. Momentum ticked back upward, remaining marginally positive.
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Pan American Silver (PAAS)
Pan American Silver saw a net March gain of +$2.10 (8.8%) to $25.83, on higher vol' of 72M. Momentum remains on the moderately high side.
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Of the four, yours truly favours Newmont, which has less of a copper component than Barrick. However, the concern should be the main market. If the broader equity market is net lower into October, the miners will struggle... even if gold is far higher.
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