The gold miner ETF of GDX saw a
net June decline of -$4.35 (13.7%) to $27.38, the sector impacted by weak gold/silver, but also the broader equity market.
The miners saw an early June high of $33.52, but cooled back to settle severely lower at $27.38, the lowest since April 2020. I would note the 10MA at $32.05, which was settled below, as the m/t trend is bearish. Monthly momentum is increasingly negative, with zero sign of a floor/turn. --
Three of the key miners...
Newmont (NEM), monthly
Newmont saw a net June decline of -$7.63 (11.3%) to $59.67. I
would note the monthly 10MA at $62.37, which was settled below. Monthly
momentum weakened, turning fractionally negative.
Barrick Gold (GOLD), monthly
Barrick Gold fell for a third consecutive month, settling -$2.80 (13.7%)
to $17.69. Momentum is increasingly negative.
First Majestic Silver (AG), monthly
First Majestic saw a
net June decline of -$0.79 (9.9%) to $7.18. Silver printing the low $20s, and the m/t broken main
sure isn't helping.
Of the three, yours truly favours NEM, if only as its more resilient than the sector. For more of the same...
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