The gold miner ETF of GDX saw a
net June decline of -$1.37 (3.9%) to $33.93, pressured by lower gold/silver.
GDX, monthly
Summary
The collective of miners were powerfully lower, mostly pressured by silver.
A more lousy performance, relative to the main market.
I
would note the 10MA at $30.41, which was still settled above.
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Four of the key miners...
Newmont (NEM)
Newmont saw a net June gain of +$0.18 (0.4%) to $41.87. I
would note the monthly 10MA at $37.76, which was settled above. Monthly
momentum ticked upward, and is increasingly positive. Soft target are the $47s, with secondary of the $49s/psy'50.
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Barrick Gold (GOLD)
Barrick settled -41cents (0.4%) to $16.68. Momentum is flat-lining, if remaining fractionally positive. Soft target are the $19s.
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First Majestic Silver (AG)
A net June decline of -$1.24 (17.3%) to $5.92, on lower vol' of 99M. Momentum ticked back lower, if remaining marginally positive. Big target are the $9s, and then the $18s.
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Pan American Silver (PAAS)
A net June decline of -$2.12 (9.6%) to $19.88, on lower vol' of 77M. Momentum ticked upward, and is on the moderately positive side. Big target
are the $28s
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Of the four, yours truly favours NEM, which has less of a copper component than Barrick.
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