Miners soaring with Gold

The gold miner ETF of GDX ended the month on a positive note, settling +23cents (0.9%) at $25.56, and that resulted in a net monthly gain of 18.4%. With Gold breaking and hold above the $1400 threshold, the m/t term outlook is extremely bullish.

GDX monthly

GDX, daily

Summary

A fourth net monthly gain of six months for the gold miners.

With Gold breaking above the decisive $1400 threshold, the related miners are naturally following.

After a choppy few years, it would seem the time for gold and the miners is now.
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The two biggest components of GDX...

Newmont Goldcorp, monthly



NEM climbed for the 7th month 9, settling +16.7% to $48.37, a decisive settlement above declining trend/resistance. M/t bullish, soft target 50/51s.


Barrick Gold, monthly

GOLD settled +$3.35 (27.0%) to $15.77. Soft target are the $21s.
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Both miners are unquestionably superb, and comprise 11.9% and 10.4% of the ETF of GDX respectively.