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Chart of the Week – VanEck Gold Miners ETF (GDX)

The gold stocks have largely followed the MM roadmap through 2026 and if they stay true to form, while new highs look imminent, another ~20% pullback is not too far away.

  • We are looking for the ASX-traded GDX ETF to follow its US parent to new highs in the coming days/weeks, but we wouldn’t chase the strength.
GDX
MM is neutral towards the GDX ETF short term
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VanEck Gold Miners ETF (GDX)
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