Miners higher with gold

The gold miner ETF of GDX saw a net September gain of +$1.20 (3.1%) to $39.82, helped by higher gold/silver, and a positive main market. 

GDX, monthly 

Summary

The collective of miners were higher for the sixth month of seven, helped by gold/silver, and the positive main market. I would note the 10MA at $33.57, which was settled above, as the m/t trend is bullish.

Four of the key miners...

Newmont (NEM) 

Newmont climbed for a seventh consecutive month, a net September gain of +$0.32 (0.6%) to $53.45. I would note the monthly 10MA at $41.94, which was settled above. Monthly momentum ticked upward, and is on the high side. The Jan'2023 $56s have been tested. From there... the $65s. 
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Barrick Gold (GOLD)  

Barrick lagged the sector, settling -$0.30 (1.5%) to $19.89. Momentum ticked upward, and is on the moderately high side. The monthly close under psy' $20 isn't so great, and threatens some cooling to the 10MA in the $17s.
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First Majestic Silver (AG) 

A net September gain of +$0.41 (7.3%) to $6.00, on very high vol' of 240M. Momentum is flat-lining on the marginally positive side. Things only turn interesting >$7.00.  News: an effective merger with Gatos Silver (GATO), although that won't likely be finalised until Q1 2025.

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Pan American Silver (PAAS)

A net September gain of +$0.67 (3.3%) to $20.88, on static vol' of 75M. Momentum ticked lower for a second month, if remaining on the moderately high side. Big target are the April 2022 $28s. That bullish outlook would be dropped with any monthly close under the key 10MA ($18s).
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Of the four, yours truly favours NEM, which has less of a copper component than Barrick.

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Five of six

The gold miner ETF of GDX saw a net August gain of +$0.70 (1.8%) to $38.62, especially helped by higher gold.

GDX, monthly 

Summary

The collective of miners were higher for the fifth month of six, helped by gold, and the positive main market. I would note the 10MA at $32.66, which was settled above, as the m/t trend is bullish.

Four of the key miners...

Newmont (NEM) 

Newmont climbed for a sixth consecutive month, a net August gain of +$4.32 (8.8%) to $53.39. I would note the monthly 10MA at $40.74, which was settled above. Monthly momentum ticked upward, and is increasingly positive. Next resistance are the Jan'2023 $56s.
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Barrick Gold (GOLD)  

Barrick settled +$1.75 (9.5%) to $18.53. Momentum is increasingly positive. The monthly close >psy' $20 is decisive, and offers the March 2020 $24s.
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First Majestic Silver (AG) 

A net August decline of -$0.58 (9.5%) to $5.59, on higher vol' of 145M. Momentum ticked a touch lower, if remaining marginally positive. Things only turn interesting >$7.00

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Pan American Silver (PAAS)

 

A net August decline of -$2.69 (11.7%) to $20.21, on higher vol' of 77M. Momentum ticked back a little, and remains on the moderately high side. Big target are the April 2022 $28s
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Of the four, yours truly favours NEM, which has less of a copper component than Barrick.

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Higher high, higher low

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.

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