GDX - miners having continued problems

With the main market significantly lower, and precious metals also especially weak, the miners had a rough end to the month. The ETF of GDX settled -2.4% @ $25.84. Near term outlook is bearish, not least if metal prices continue to slide.


GDX, daily

GDX, monthly

Summary

*it is notable that GDX saw monthly declines of -2.3%.
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So... the miners are facing not only a weak broad equity market (at least for the past 5 trading days), but metals are also looking highly vulnerable (see Gold/Silver page).

I remain resigned to Gold eventually falling to test the giant $1000 threshold. If that is the case, then the miners have a long way to fall from here.