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GDX Gold Stocks ETF

Commodities / Gold and Silver Stocks 2019 Jun 25, 2019 - 11:20 AM GMT

By: Nadeem_Walayat

Commodities

This article in my Gold analysis series takes a look at GDX the Gold stocks ETF:


The whole of this analysis was first been made available to Patrons who support my work: Gold Price Trend Forecast Summer 2019

GDX Gold Stocks ETF

The ETF of the big Gold miners is currently showing relative weakness against the gold price which suggests gold bug skepticism about getting their long anticipated rally anytime soon. The overall trend over the past 2 years has been very similar, so why contemplate buying Gold miners rather than Gold bullion or a Gold ETF like GLD? We'll Gold stocks do tend to be LEVERAGED to the Gold price and likely move X2 the Gold price when the Gold price breaks out of its trading range.

So whilst the gold price and GDX have been in a 5 year trading range. Nevertheless when the breakout eventually happens Gold stocks should rise at a faster pace than the Gold price for the fundamental reason the stocks become more profitable i.e. Big cap gold stocks operating costs (AISC) at an average of $1000 per ounce of Gold mined. So at $1300 their profit is a healthy $300 per ounce, whilst at $1400 profit jumps by 33% to $400, hence leverage to the Gold price.

Aagin the whole of this analysis was first been made available to Patrons who support my work:Gold Price Trend Forecast Summer 2019

So for immediate First Access to ALL of my analysis and trend forecasts then do consider becoming a Patron by supporting my work for just $3 per month. https://www.patreon.com/Nadeem_Walayat.

Scheduled Analysis :

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Nadeem Walayat

http://www.marketoracle.co.uk

Copyright © 2005-2019 Marketoracle.co.uk (Market Oracle Ltd). All rights reserved.

Nadeem Walayat has over 30 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis focuses on UK inflation, economy, interest rates and housing market. He is the author of five ebook's in the The Inflation Mega-Trend and Stocks Stealth Bull Market series that can be downloaded for Free.

Housing Markets Forecast 2014-2018The Stocks Stealth Bull Market 2013 and Beyond EbookThe Stocks Stealth Bull Market Update 2011 EbookThe Interest Rate Mega-Trend EbookThe Inflation Mega-trend Ebook

Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication that presents in-depth analysis from over 1000 experienced analysts on a range of views of the probable direction of the financial markets, thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors before engaging in any trading activities.

Nadeem Walayat Archive

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


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