The gold miner ETF of GDX saw a net June decline of -$14.04 (15.7%) to $74.45.
GDX, monthly
Summary
The third monthly decline of four. A low of $73.63, but recovering to settle in the mid $75s. A decisive monthly close under the 10MA. Next big support is around $58. Monthly momentum weakened for a fourth month, and will turn negative as of July 1st. RSI has cooled to the 55s.
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Four of the key miners...
Agnico Eagle Mines (AEM)
Agnico fell for a fourth consecutive month, settling -$27.57 (15.1%) to $155.14. A decisive monthly close under the 10MA. Next big support is around $100. Monthly momentum weakened for a fourth month, turning fractionally negative. Vol' picked up to 65M.
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Newmont (NEM)
Newmont declined for the third month of four, a net June decline of -$16.41 (14.9%) to $93.40. A decisive monthly close under the 10MA. Next big support is around $76. Monthly momentum weakened for a fourth month, and might turn negative in July. Vol' picked up to 193M
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Barrick Mining (B)
Barrick Mining saw a net June decline of -$5.82 (13.7%) to $36.73. A decisive monthly close under the 10MA. Next big support is around $27. Momentum weakened for a fourth month, and due to turn negative in July. Vol' was a little lower at 263M
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Pan American Silver (PAAS)
Pan American Silver saw a net June decline of -$12.20 (21.4%) to
$44.79. A decisive monthly close under the 10MA. Next big support is around $35. Momentum weakened for a fourth month, and prone to turning negative in July. Volume picked up to 107M.
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Of
the four, yours truly favours Newmont, but the monthly charts offer zero sign of a floor/turn. Arguably, even the bold will be sitting back, and waiting for a cyclical turn, which will likely be some months away.
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