The gold miner ETF of GDX saw a
net April gain of +$1.86 (5.7%). Multi-month price structure remains a
valid (if overly long) bull flag. Relative to gold and silver, the
miners are fairing well.
April was another mixed month for the
gold and silver miners, with GDX printing $36.83, but cooling back to
settle at $34.36. The s/t outlook is bullish to the $37s. I would note the 10MA at $36.40. Things turn decisive above psy' $40
Two of the key miners...
Barrick Gold (GOLD), monthly
A net April gain of +$1.45 (7.3%) to $21.25. Monthly momentum continued to weaken, and remains on the moderately negative side. Short term bullish, but currently still m/t bearish. The more cautious will wait to chase with a break and hold above the 10MA at $24.00.
First Majestic Silver (AG), monthly
A net April decline of -$0.49 (3.1%) to $15.09. Momentum ticked lower, but remains on the moderately positive side. I would note the 10MA at $13.62. For now, still short/mid term bullish.
Of the two, yours truly favours GOLD. As of end April, I hold both.