The gold miner ETF of GDX saw a net April gain of +$3.04 (6.6%) to
$49.01
GDX, monthly
Summary
The collective of miners climbed for a fourth consecutive month. GDX printed $53.25, the highest since Dec'2011. I
would note the 10MA at $39.97, which was settled above, as the m/t trend is bullish.
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Four of the key miners...
Newmont (NEM)
Newmont saw an April gain of +$4.40 (9.1%) to $52.68. I
would note the monthly 10MA at $45.17, which was settled above. Monthly
momentum ticked back upward. Vol' was a heavy 348M
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Barrick Gold (GOLD)
Barrick saw a net April decline of -$0.40 (2.1%) to $19.04. Momentum ticked a little higher, and is marginally positive.
NEWS: Barrick Gold is set to rename to Barrick Mining, with the NYSE ticker: GOLD > B, whilst remaining ABX on the TSX. Change to take effect as of the start of May 9th.
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First Majestic Silver (AG)
First Majestic Silver settled -$0.43 (6.4%) to
$6.26, on record vol' of 447M. Momentum is flat-lining on the marginally positive side.
--
Pan American Silver (PAAS)
Pan American Silver saw a net April decline of -$0.65 (2.5%) to
$25.18, on much higher vol' of 102M. Momentum remains on the
moderately high
side.
--
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 continues to climb.
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