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Gold Falls Sharply Again

Published 09/09/2014, 01:38 AM
Updated 05/14/2017, 06:45 AM

Gold is collapsing again. A rising stock market, soaring Dollar and lack of fear is continuing to put pressure on the metal. The Market Vectors Gold Miners ETF (ARCA:GDX) is into a key level here, the 200 moving average on the daily chart. While this level may be good for a multi-day swing trade long, it is unlikely to be the final low of the mining index in the coming months. Simply put, a quick few day trade on the GDX is likely to yield some profits but do not stick around long.

GDX Daily Chart

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