Miners multi-year high

The gold miner ETF of GDX saw a net March gain of +$6.25 (15.7%) to $45.97.

GDX, monthly 

Summary

The collective of miners climbed for a third consecutive month. GDX printed $46.94, the highest since Oct'2012. I would note the 10MA at $38.42, which was settled above, as the m/t trend is bullish.
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Four of the key miners...

Newmont (NEM)

Newmont saw a March gain of +$5.69 (13.4%) to $42.84. I would note the monthly 10MA at $45.17, which was settled above. Monthly momentum ticked back upward.
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Barrick Gold (GOLD)

Barrick saw a net March gain of +$1.69 (9.5%) to $19.44. Momentum ticked a little higher, and is fractionally positive.
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First Majestic Silver (AG) 

First Majestic Silver saw a low of $5.09, but swung upward to settle +$1.32 (24.6%) to $6.69, on record vol' of 436M. Momentum ticked back upward, remaining marginally positive.

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Pan American Silver (PAAS)

 
Pan American Silver saw a net March gain of +$2.10 (8.8%) to $25.83, on higher vol' of 72M. Momentum remains on the moderately high side.
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Of the four, yours truly favours Newmont, which has less of a copper component than Barrick. However, the concern should be the main market. If the broader equity market is net lower into October, the miners will struggle... even if gold is far higher.

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Miners higher with gold

The gold miner ETF of GDX saw a net February gain of +$0.76 (1.9%) to $39.72, largely helped by gold printing a new hist' high of $2974.00

GDX, monthly 

Summary

The collective of miners climbed for a second consecutive month. I would note the 10MA at $37.31, which was settled above, as the s/t trend is bullish.
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Four of the key miners...

Newmont (NEM)

Newmont saw a February high of $48.23, if cooling back to settle +$0.12 (0.3%) to $42.84. I would note the monthly 10MA at $44.71, which was settled beneath. Monthly momentum ticked lower for a fifth month, but is leveling out.
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Barrick Gold (GOLD)

Barrick saw a net February gain of +$1.47 (9.0%) to $17.75. Momentum ticked a little higher, and is fractionally positive. After some drama, the company and CEO Bristow have reached an agreement with the Mali regime. 
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First Majestic Silver (AG) 

First Majestic Silver saw a net February decline of -$0.32 (5.7%) to $5.37, on record vol' of 389M. Vol' was skewed due to the recently finalised merger with Gatos Silver. Momentum ticked a little lower, if remaining marginally positive.

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Pan American Silver (PAAS)

Pan American Silver saw a net February gain of +$0.62 (2.7%) to $23.83, on marginally higher vol' of 63M. Momentum remains on the moderately high side.
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Of the four, yours truly favours Newmont, which has less of a copper component than Barrick.

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Miners digging upward

The gold miner ETF of GDX saw a net January gain of +$5.05 (14.9%) to $38.96, helped by gold/silver, and the main market.

GDX, monthly 

Summary

The collective of miners started the year on a powerfully bullish note. I would note the 10MA at $36.62, which was settled back above, as the s/t trend is back to bullish.
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Four of the key miners...

Newmont (NEM)

Newmont rebounded with the sector, a net January gain of +$5.50 (14.9%) to $42.72. I would note the monthly 10MA at $44.42, which was settled beneath. Monthly momentum ticked lower for a fourth month, but is leveling out.
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Barrick Gold (GOLD)

Barrick saw a net January gain of +$0.87 (5.6%) to $16.37. Momentum ticked lower for a fourth month, and will likely turn negative as of Feb'3rd. The company and CEO Bristow are mired in problems with the Mali regime. 
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First Majestic Silver (AG) 

First Majestic Silver saw a net January gain of +$0.21 (3.8%) to $5.70, on record vol' of 339M. Vol' was skewed due to the finalised merger with Gatos Silver. Momentum ticked a little lower, if remaining marginally positive.

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Pan American Silver (PAAS)

 

Pan American Silver saw a net January gain of +$2.99 (14.8%) to $23.21, on relatively low vol' of 55.7M. Momentum remaining on the moderately high side.
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Of the four, yours truly favours Newmont, which has less of a copper component than Barrick.

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Miners fall into year end

The gold miner ETF of GDX saw a net December decline of -$3.31 (8.9%) to $33.91, dragged down by gold/silver, and the main market.

GDX, monthly 

Summary

The collective of miners dug lower for a second consecutive month. I would note the 10MA at $35.84, which was settled under, as the m/t bullish trend has been broken. 

The ultimate concern should be if (or rather... when) the main market puts in a mid/long term top, gold/silver, and the related miners will be prone to being dragged lower.
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Four of the key miners...

Newmont (NEM)

Newmont fell for a third month, a net December decline of -$4.72 (11.2%) to $37.22. I would note the monthly 10MA at $43.67, which was settled beneath. Monthly momentum ticked lower for a third month, and is prone to turning negative by Feb'3rd.
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Barrick Gold (GOLD)

Barrick fell for a fourth month, a net December decline of -$1.99 (11.4%) to $15.50. Momentum ticked lower for a third month, and will likely turn negative as of January 2nd.
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First Majestic Silver (AG) 

First Majestic fell for a second month, a net December decline of -$0.62 (10.1%) to $5.49, on high vol' of 193M. Momentum ticked a little lower, and prone to turning negative by early Feb'. The effective merger with Gatos Silver (GATO) is due to be finalised within Q1 2025.

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Pan American Silver (PAAS)

Pan American fell for a second month, a net December decline of -$1.75 (8.0%) to $20.22, on lower vol' of 56M. Momentum ticked a little lower, if remaining on the moderately high side. December's candle is bearish engulfing, with an upper spike... reflective of tired miner bulls.
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Of the four, yours truly favours NEM, which has less of a copper component than Barrick.

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