09/06/2026 09:21

Chart (s) of the Week – Gold ($US/oz) v Global Gold Miners ETF (GDX)

Golds experiencing a tough few months with bond yields now weighing on the non-yielding precious metal. Previously the higher oil price was also causing some selling of the precious metal by emerging countries struggling with the elevated prices - Turkey have been one of the largest net sellers in 2026 after accumulating through 2025.

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02/03/2026 09:20

Chart (s) of the Week – VanEck Gold Miners ETF (GDX US) – Part 3

This morning we’ve revisited the US gold ETF as it reached our target levels late last week and is set to pop higher again this morning although to what degree is a hard call. If our roadmap is on point the GDX is approaching a meaningful high with another ~30% pullback on the horizon.

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23/02/2026 09:16

Chart of the Week – VanEck Gold Miners ETF (GDX US) – Part 2

This morning we’ve again used the US gold ETF as it saw and reacted to the court’s decision to block Trumps tariffs on Friday night. The advance by the precious metals and GDX ETF fits our current roadmap but we reiterate MM would not be chasing a breakout to new highs.

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06/02/2026 09:39

VanEck Gold Miners ETF (GDX) $141.00

The GDX ETF holds global miners, including Australian names. Its largest holding is Newmont, which tumbled to fresh 4-week lows overnight as forced liquidation gathered momentum, albeit without the steroids controlling silver and Bitcoin. We can see the GDX ETF testing the nerves of investors, seeing no reason to be a hero in the short term, with selling gathering, as opposed to losing momentum.

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30/01/2026 09:35

VanEck Gold Miners ETF (GDX) $165.95

Unlike copper stocks, gold names haven’t run ahead of the underlying precious metal. In 2026, the GFDX ETF has advanced +28%, dancing almost in sync with the precious metal. The parabolic advance by precious metals feels dangerous, and at MM, we take one important read-through from the current price action in the metal sector.

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22/12/2025 09:18

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.

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19/12/2025 09:33

VanEck Gold Miners ETF (GDX) $122.24

Precious metals have often dominated headlines through 2025, with both silver and gold regularly punching to new highs, with the GDX ETF surging almost +140%.

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05/12/2025 09:10

VanEck Gold Miners ETF (GDX) $122.53

The gold market has stabilised in recent weeks with its move into Christmas will likely be determined by Fed commentary next week i.e. they’re likely to cut, however, Gold probably needs further dovish rhetoric to go on with the advance.  Whenever doubts creep into the market around how fast Jerome Powell will cut rates, the precious metal struggles with related stocks following suit.

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14/11/2025 09:28

VanEck Gold Miners ETF (GDX) $122.24

We almost began with gold this morning — after all, precious metals have dominated headlines in recent months — but lithium has taken centre stage of late. In October, the precious metals market underwent a major shakeout, clearing out many weak longs and speculative positions as the crowded trade unwound in a classic panic. In a single session, spot gold plunged as much as 6.3%, its sharpest one-day fall in over a decade, while spot silver tumbled 8.7%, despite no specific catalyst.

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24/10/2025 09:32

VanEck Gold Miners ETF (GDX) $111.98

We almost had to start with gold this morning as precious metals captured the headlines in recent weeks, both in the financial and mainstream news. On Tuesday, precious metals endured their steepest selloff in years as we saw the crowded trade unwind in classic panic-like fashion. In one day, spot gold prices slumped as much as 6.3%, the biggest decline in more than a dozen years, while spot silver dropped as much as 8.7% as selling gathered momentum throughout the day on no specific news.

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