GDX - VanEck Gold Miners ETF

[DaveTrade]

Taking a look at a big picture chart on US gold mining stocks, the market has broken out of a multi-year descending channel around mid 2024 and made a five wave move up into a resistance price zone shown on the chart where the market has made a recent sharp reversal.

If this reversal can turn back to the upside on strength before reaching the Feb28 low, which corresponds to a 61.8% retrace, then this multiwave move could turn out to be a seven wave move breaking through that major resistance, before making a more substantial reversal.

 

[Sean K]

I'm slightly surprised to see so many gold stocks breaking up when the market is breaking down. Yes, AUD Gold has been on a tear and is still going, but when the market flops just about everything flops, as this did earlier in the week. But now, market down, GDX up.

 

[Garpal Gumnut]

i'd be really pleased to see your faith in miners pay off @Sean K

gg

 

[houtman]

I'm slightly surprised to see so many gold stocks breaking up when the market is breaking down. Yes, AUD Gold has been on a tear and is still going, but when the market flops just about everything flops, as this did earlier in the week. But now, market down, GDX up.

View attachment 197300

Yeah, wasn't sure what to expect this morning with my goldies.

As you say, have been flopping with the market but today looks to be a disconnect.

 

[rcw1]

Good morning
Great day for gold believers yesterday (12/04/25) PoG went to Mars!!!
GDX had another all-time high @ $78.59

Nice

Chart update:
Daily

15 minute chart - $12.51 gain over (5) five days !!!! The power of gold in uncertain times ....

Not holding
Have traded.

Kind regards
rcw1

 

[Garpal Gumnut]

I couldn't make my mind up on big gold miners so decided to buy some GDX. I have a fair few $US in an IBKR account and rather than converting because the $USD had fallen I decided to buy the US version of GDX and GDXJ as well.

I may miss out on some franked divies, although most of the stocks in both are Canadian or US with some Aussie, so I doubt it.

It is also quite amusing to see what the yanks call junior miners in the J. There are some heavy hitters there as well. They fell after I bought but expect to be in profit tonight or later this week should the god of the yellow metal shine on me.

gg