GDX - miners power upward across February

With precious metals climbing across the month, the related mining stocks were similarly on the rise. The ETF of GDX saw a very powerful net monthly gain of $5.13 (36.1%) to $19.34 - the highest monthly close since May 2015. Near term outlook threatens some cooling, before much higher levels across the spring/early summer.


GDX, monthly

GDX, daily

Summary

The mining stocks are naturally following the precious metals.

The February gains were very powerful, and regardless of any cooling into mid March, the precious metals and related mining stocks look set for much higher levels into April/May.

The issue is whether a key multi-year low is in. The gold bugs are going to need to see a higher low generated on the bigger weekly/monthly cycles, but there won't likely be clarity of that for some months.

*I am seeking to be long Gold - via GLD, and the miners - via GDX, in mid March.