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Is the Gold Miners ETF Ready to Blast Off Higher?

Published 04/03/2024, 03:57 AM
Updated 07/09/2023, 06:31 PM

Just as everyone is fawning over Bitcoin and stocks at all-time highs, Gold has quietly made all-time highs. And, just as we wrote earlier this week, that may be a good thing for Gold bulls.

Today we turn our attention to the gold miners etf (NYSE:GDX) and look at a “monthly” chart.

As you can see, the gold miners have been stuck inside a narrowing pattern for the past couple of years.

With gold making new all-time highs, it may be a matter of time before the gold miners stocks and etf (GDX) breakout.

And once a breakout takes place, a large move should follow. Stay tuned.

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