Vaneck Vectors Gold Miners is under Algo Engine buy conditions.
GDX provides broad exposure to the leading global gold producers.
VanEck Vectors Gold Miners has created a higher low formation and a new Algo buy signal at $52.
We expect buying to rebuild in the GDX gold ETF along with NCM, NST, and GOR as our preferred individual stock selections.
Vaneck Vectors Gold Miners seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the NYSE Arca Gold Miners Index. The Index is intended to track the overall performance of companies involved in the gold mining industry.
Buy GDX within the $50 – $55 price range.
The below post is a copy of a publication on the 18th of October. Since making the post, gold stocks have performed well and we now look to trim the gains and rotate into oversold industrial & REIT names.
Vaneck Vectors Gold Miners is under Algo Engine buy conditions following the entry condition earlier this year at $30. It is a current holding in our ALL ASX ETF model portfolio.
GDX ETF has corrected from $45 to $38 over the past 8 weeks. We feel buying support will now begin to increase.