GDX - another bad week for the miners

Whilst the broader equity market built gains, there was once again notable weakness in the mining stocks. The ETF of GDX saw a net weekly decline of -5.3%. For September so far, GDX has been smashed lower by -15.3%. Outlook remains.... absolutely dire.


GDX,daily

GDX, monthly

Summary

*the third consecutive net weekly decline for GDX
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Little to add from the many posts across the last few weeks.

So long as the precious metals continue to fall.. the miner stocks will also decline, regardless of however strong the main equity market might be.