Miners powering upward

The gold miner ETF of GDX ended the month on a very positive note, settling +$1.31 (3.1%) to $42.94, and that made for a net July gain of +$6.26 (17.1%). The miners are long term bullish with Gold and Silver.

GDX, monthly

GDX, daily

Summary

A fourth consecutive net monthly gain for the gold miners, with a July high of $44.46 - the highest since Dec'20212. Having already cleared the 2016 high, m/t bullish to 50/52, with secondary target of the 2011 $63s.

Key miners...

Newmont (NEM), monthly

A net July gain of +$7.46 (12.1%) to $69.20, having broken a new historic high of $70.30. M/t bullish to giant psy'100, which is viable before year end.

Barrick Gold (GOLD), monthly

A net July gain of +$1.97 (7.3%) to $28.91, having printed $30.20, the highest since Feb'2013. M/t bullish, with soft target of the $37s. New historic highs >50.11, will arguably require Gold to the 2400/2500 zone.
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Of the two, yours truly favours GOLD, but both are tier'1 quality miners.   

Miners following bullish gold

The gold miner ETF of GDX ended the month on a very positive note, settling +$1.12 (3.1%) to $36.68, and that made for a net June gain of +$2.36 (6.9%). The miners remain m/t bullish with Gold.

GDX, monthly

GDX, daily

Summary

A third consecutive net monthly gain for the gold miners, with a June high of $36.72, just a little shy of the May high. Having cleared the 2016 high, m/t bullish to 50/52.

Key miners...

Newmont (NEM), monthly

A net June gain of +$3.52 (6.0%) to $61.74. The June candle has a powerful hyper spike floor from $52.33, and leans s/t bullish. M/t bullish to giant psy'100... which is viable before year end.

Barrick Gold (GOLD), monthly

A net June gain of +$2.94 (12.2%) to $26.94. The June candle has a spike floor from $22.13, and leans distinctly s/t bullish. M/t bullish, with soft target of the $37s. New historic highs >50.11, will clearly require Gold sustainably >2K.
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Of the two, yours truly favours GOLD, but both are tier'1 quality miners.  

Miners broadly pushing upward

The gold miner ETF of GDX ended the month on a positive note, settling +32cents (0.9%) to $34.32, and that made for a net May gain of +$2.06 (6.4%). The miners remain m/t bullish with Gold.

GDX, monthly

GDX, daily

Summary

A second monthly gain for the gold miners, with a May high of $37.49, the highest since Feb'2013.

S/t vulnerable to the 50dma - not least with a Thursday and Friday black candle, but broadly, the miners are strong. Having cleared the 2016 high, m/t bullish to 50/52.

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Key miners...

Newmont (NEM), monthly

A net May decline of -$1.01 (1.7%) to $58.47, but having broken a new historic high of $69.13. The May candle is spiky. S/t over-stretched, with first support of 52/50.


Barrick Gold (GOLD), monthly

A net May decline of -$1.64 (6.4%) to $24.00. The May candle is spiky, and threatens s/t downside, with major support 21/20s.M/t bullish, with soft target of the $37s. New historic highs >50.11, will require Gold sustainably >2K.
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Of the two, yours truly favours GOLD, but both are tier'1 quality miners.