VanEck Gold Miners ETFGiá lên
Gold Miner ETF Holds Key Zone
Gold miners have been consolidating for the last six months and now the Market Vectors Gold Miner ETF is bouncing at a potentially key level.
GDX peaked around $28 between late October and mid-December. It then broke out and has now pulled back to find support at the old resistance. There's also some confluence with the 50- and 100-day simple moving averages at the same area.
Meanwhile, the U.S. dollar index just made another lower high below its 50-day SMA. This isn't a huge surprise given the Fed's strongly dovish stance -- especially after last week's poor non-farm payrolls report AND this week's tepid inflation numbers.
GDX could also serve as something of a hedge against downside in the broader market. While the
S&P 500 isn't showing many clearly bearish signs yet, a lot of good news is potentially priced in.
XAUUSD
Market Vectors Gold Miner ETF is bouncing at a potentially key level. GDX peaked around $28 between late October and mid-December. It then broke out and has now pulled back to find support at the old resistance. There's also some confluence with the 50- and 100-day simple moving averages at the same area.
Meanwhile, the U.S. dollar index just made another lower high below its 50-day SMA. This isn't a huge surprise given the Fed's strongly dovish stance -- especially after last week's poor non-farm payrolls report AND this week's tepid inflation numbers.
GDX could also serve as something of a hedge against downside in the broader market. While the
S&P 500 isn't showing many clearly bearish signs yet, a lot of good news is potentially priced in.XAUUSD
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