ETF Watch – Buy Signal in Gold Miners ETF

Our Algo Engine has triggered a buy signal in the Vaneck Vectors Gold Miners ETF with the ASX symbol GDX.

The price of Spot Gold has been very active and has traded in a $50.00 range between $1290.00 and $1240.00 since December 1st.

We estimate that a move back to $1290 in Spot Gold will translate to a share price of $30.40 in GDX.