A trivial gain

The gold miner ETF of GDX saw a net October gain of +$0.04 (0.2%) to $24.16, the sector was impacted by further downside in gold, and a m/t bearish equity market.

GDX, monthly

 

Summary

Whilst the miners managed a second consecutive net monthly gain, the m/t trend remains bearish. I would note the 10MA at $29.54, which was once again settled below. Monthly momentum remains strongly negative.
--

Three of the key miners...

Newmont (NEM), monthly 

Newmont saw a net October gain of +$0.29 (0.7%) to $42.32.  I would note the monthly 10MA at $56.80, which was settled far below. Monthly momentum continues to spiral lower, and is deeply negative.

--

Barrick Gold (GOLD), monthly

 

Barrick Gold settled -$0.47 (3.0%) to $15.03. Momentum remains moderately negative.
--

First Majestic Silver (AG), monthly

 

First Majestic saw a net October gain of $0.81 (10.6%) to $8.43.

*Further main market downside, or dollar strength aren't going to help any of the gold and silver miners.

-
For more of the same...

For details > https://www.tradingsunset.com

Miners still m/t bearish

The gold miner ETF of GDX saw a net September gain of +$0.32 (1.3%) to $24.12, the sector was impacted by further downside in gold, and a m/t bearish equity market.

GDX, monthly

 Summary

Whilst the miners managed a net monthly gain, the m/t trend remains bearish. I would note the 10MA at $30.33, which was once again settled below. Monthly momentum is increasingly negative, with zero sign of a short/mid term floor.
--

Three of the key miners...

Newmont (NEM), monthly 

Newmont saw a net September gain of +$1.22 (3.0%) to $42.03. Despite the net monthly gain, I'd note we're still putting in lower highs and lower lows. I would note the monthly 10MA at $58.60, which was settled far below. Monthly momentum continues to spiral lower, settling deeply negative.

--

Barrick Gold (GOLD), monthly

 

Barrick Gold settled +$0.65 (4.4%) to $15.50. Momentum continues to weaken, and is moderately negative.
--

First Majestic Silver (AG), monthly

 

First Majestic saw a net September gain of $0.34 (4.7%) to $7.62. In the scheme of things, its a minor gain. 

*Further main market downside, or dollar strength aren't going to help any of the gold and silver miners.

-
For more of the same...

For the latest offers > https://www.tradingsunset.com

Miners still digging

The gold miner ETF of GDX saw a net August decline of -$2.47 (9.4%) to $23.80, the sector impacted by further downside in gold/silver, and a m/t bearish equity market.

GDX, monthly

Summary

The miners dug lower for a fifth consecutive month. I would note the 10MA at $31.04, which was settled below, as the m/t trend remains bearish. Monthly momentum is increasingly negative, with zero sign of a floor/turn.
--

Three of the key miners...

Newmont (NEM), monthly 

Newmont saw a net August decline of -$3.92 (8.7%) to $41.36, the lowest close since Dec'2019. I would note the monthly 10MA at $60.48, which was settled far below. Monthly momentum continues to spiral lower, settling deeply negative.

--

Barrick Gold (GOLD), monthly

 

Barrick Gold fell for a fifth consecutive month, settling -$0.68 (4.4%) to $14.85, the lowest close since May 2019. Momentum is moderately negative.
--

First Majestic Silver (AG), monthly

 

First Majestic saw a net August decline of $0.37 (4.9%) to $7.28. Silver $18s, and a m/t bearish main market, aren't helping.

-
For more of the same...

For details > https://www.tradingsunset.com