Many traders have their eyes focused on spot gold breaking out. With gold miners near their lows, they are compelling trades. Two of the largest holdings within the gold mining ETF
GDX
is
NEM
and $GOLD.
YTD performance:
GDX
+5.6%
NEM
-16.7%
GOLD
+0.29%
During gold bull markets,
NEM
outperforms
GDX
and
GOLD
underperforms. For traders looking to get into the gold trade,
NEM
is currently discounted to the ETF—this provides an interesting opportunity to get in if you missed the original breakout move.
GDX
is
NEM
and $GOLD. YTD performance:
GDX
+5.6%
NEM
-16.7%
GOLD
+0.29% During gold bull markets,
NEM
outperforms
GDX
and
GOLD
underperforms. For traders looking to get into the gold trade,
NEM
is currently discounted to the ETF—this provides an interesting opportunity to get in if you missed the original breakout move.
Comment:
NEM
leading the majors today as expected.
NEM
leading the majors today as expected.