The gold miner ETF of GDX was very powerfully lower in October, -$10.71 (12.2%) to $77.09.
GDX, monthly
Summary
A high of $89.63, but spiraling lower to settle in the
$77s, as original H/S target of 79/78s has been met. Monthly momentum is moderately negative. Relative to gold/silver, the miners are holding up, still above their July lows.
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Four of the key miners...
Agnico Eagle Mines (AEM)
Agnico was powerfully lower, settling -$17.89 (9.8)) to
$165.38. Monthly momentum ticked lower, and remains moderately negative. Vol' was a little lower at 39M
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Newmont (NEM)
Newmont saw a net October decline of -$8.73 (7.6%) to $106.61.
Monthly momentum ticked lower, and is due to turn negative as of Nov'2nd. Vol' was a little lower at 127M
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Barrick Mining (B)
Barrick Mining settled -$3.66 (9.0%) to $37.01. Momentum ticked lower, and has turned negative. Vol' declined to 153M.. the lowest since around 2012.
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Pan American Silver (PAAS)
Pan American Silver saw a net October decline of -$7.53 (16.5%) to
$37.98. Momentum has turned negative. Next big support are the $35s from 2020.Volume picked up to 83M
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Of
the four, yours truly favours Newmont. The cautious will have been on
the sidelines, and waiting for a main market washout before the
midterms... as is happening.
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