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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