Get 40% Off
These stocks are up over 10% post earnings. Did you spot the buying opportunity? Our AI did 😎Read how

Gold Miners Set To Lead The Market

Published 07/30/2014, 02:14 AM
Updated 07/09/2023, 06:31 AM
Gold miners are some of the best performing assets of 2014. Not all gold miners are up big but I believe the laggards will join the leaders once gold breaks out definitively. Gold mining ETFs are at the top of the ETF ranks this year. If you plot Market Vectors Gold Miners (ARCA:GDX) or Market Vectors Junior Gold Miners (ARCA:GDXJ) against SPDR S&P 500 (ARCA:SPY) on a relative basis a key technical event is unfolding. Gold miners are starting to hold the 50 day moving average on this relative chart and the 50 day is tightening with the 200 day moving average. This is a very bullish formation and a break above the 200 day moving average would confirm leadership in the stock market for the gold stocks.

GDXJ-SPY

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.