Gold Miners ETF (GDX)

[trunkmonk]

Peanut gallery says where is the 50, oh no, 50 is here.

[trunkmonk]

Gold always flushes out the truth, and flushes down the freaks. they dont understand it, try to chart it, attack those that follow it, but at the end of the cycle, gold goes up with no regard for anything they claim, and proves all the stalkers and critics wrong, and that they really know little about how gold understands markets better than anything else.

[NYBob]

GOLD MINES BARGAIN $DSV - Nice new approach -



https://bpd-space.nyc3.cdn.digitaloceanspaces.com/scp/250501-scp-dsv-initiation.pdf

Kevin O'Leary: Alberta situation is heating up fast
galacticstorm



https://rumble.com/v6swxfh-kevin-oleary-alberta-situation-is-heating-up-fast.html

Alberta separatism vs Quebec separatism: Lawyer explains key differences



https://rumble.com/v6svrmd-alberta-separatism-vs-quebec-separatism-lawyer-explains-key-differences.html

Conservatives Lost | Will Alberta force Canada to Change | How does Trump play into this?
Toasted IDEAS



https://rumble.com/v6svt69-conservatives-lost-will-alberta-force-canada-to-change-how-does-trump-play-.html

Alberta Delegation Visiting Trump To Discuss Secession
Patriot Mindset



https://rumble.com/v6svh9h-alberta-delegation-visiting-trump-to-discuss-secession.html

US-Ukraine resources deal: What we know so far
The long-awaited agreement grants America preferential access to the Eastern European country’s mineral resources
1 May, 2025 10:54
HomeWorld News



https://www.rt.com/news/616615-us-ukraine-resource-deal-recap/

Alberta wants OUT? Constitutional lawyer explains REFERENDUM changes and path to independence
JunoNews



https://rumble.com/v6std49-alberta-wants-out-constitutional-lawyer-explains-referendum-changes-and-pat.html

"It's WORSE Than COVID!" 60 Minutes Fearmonger Doctor says new pandemic is already here | Redacted
Redacted News
596K followers



https://rumble.com/v6sj4wn-its-worse-than-covid-60-minutes-fearmonger-doctor-says-new-pandemic-is-alre.html?e9s=rel_v2_ep

MAGA NEWS - Alberta separatism 'just got real' after Carney's election win
Rebel News
447K followers



https://rumble.com/v6stpmn-alberta-separatism-just-got-real-after-carneys-election-win.html

WEF
https://rumble.com/v6sr2m1-klaus-schwabs-daughter-confesses-wef-plans-to-murder-billions-of-people.html?e9s=src_v1_upp



INSANE: CA DEMS BLOCK BILL MAKING CHILD SEX TRAFFICKING A FELONY
Drew Hernandez



https://rumble.com/v6ssc6p-insane-ca-dems-block-bill-making-child-sex-trafficking-a-felony.html?e9s=src_v1_news

Canada's Election Results Are A Golden Opportunity For Trump, America & Alberta
Premium
Steven Crowder
1.73M followers



https://rumble.com/v6sq6b3--why-canadas-election-results-are-a-golden-opportunity-for-trump-and-americ.html

From a ZH commentor: As a Canadian, here's my view on Trump's "trump-card" if Liberals win...

1. Alberta will be royally pissed off. They will hold a separation referendum.

2. Trump makes Alberta a generous offer to become the 51st state, including
personal perks for all individuals, possibly a tax holiday or cash payout of some kind.

3. Any Canadian citizen living in Alberta on "Separation Day" gets US citizenship.

4. All the libtards in Alberta are horrified at become Americans and frantically move to other provinces.

5. Conservatives in other provinces, who are fed up with the socialist, corrupt,
lying totalitarian Liberal federal government flock to Alberta so they can become Americans.

6. The result is that Alberta becomes ultra-conservative. On Separation Day, Alberta joins the US,
becoming the strongest-leaning Republican state in the union.

7. In the next US presidential election, the new Republican stronghold state of Alberta
guarantees that the Republicans win the presidency, house, and senate.

8. The US gains access to all the resource wealth of Alberta.

9. The standard of living of Albertans rockets up without the anti-business and
anti-oil/gas constraints of the Canadian government. And Alberta gets to keep the money
that was formally transferred to the rest of Canada, becoming one of the richest states in the union.

Win for America. Win for American patriots. Win for conservative Canadians.

Then we can all watch the rest of Canada economically implode, and the US can absorb each province, one by one.

Alberta just opened the door to separation—and we’re done getting screwed



https://rumble.com/v6ssfdj-alberta-just-opened-the-door-to-separationand-were-done-getting-screwed.html

The Path to Alberta Independence and Statehood



https://rumble.com/v6sqgsz-the-path-to-alberta-independence-and-statehood.html

DEEP STATE MAFIA - They Have Seen Massive Vote Fraud Problems

https://x.com/imjulianassange/status/1917274787954712800?s=46&t=iNqPYf3pvqm4FqqSzL71fw

https://x.com/imjulianassange/status/1917274787954712800?s=46&t=iNqPYf3pvqm4FqqSzL71fwThe Surprising Truth About Canada's Election Results!
North West Cavalryman



https://rumble.com/v6sr3qx-the-surprising-truth-about-canadas-election-results.html?e9s=src_v1_ucp

Rapid Fire: Canada Elections, Dem's Sit-In, Israeli Taking Points Escalate; PLUS: Jewish Academics Push-Back
on Antisemitism Claims | SYSTEM UPDATE #445
Glenn Greenwald
532K followers



https://media.gettr.com/group7/getter/2025/04/29/13/c4bcc214-f93c-e632-46df-1fc4e124957e/e35834f50b0b05a77c40a77e3609546d_768x0.png

1 DOWN 3000 TO GO



JUST IN: President Trump Signs Executive Order to Hold Sanctuary Cities
Accountable for Violating Federal Immigration Law Enforcement and Federal Criminal Law
by Jordan Conradson Apr. 29, 2025 9:45 am164 Comments



https://www.thegatewaypundit.com/2025/04/just-president-trump-signs-executive-order-hold-sanctuary/

LIVE: President Trump Holds a Rally Celebrating his First 100 Days in Warren, MI - 4/29/25
Right Side Broadcasting Network
568K followers



https://rumble.com/v6sikjd-live-president-trump-holds-a-rally-celebrating-his-first-100-days-in-macomb.html?e9s=src_v1_news

Alex Jones: Emergency Broadcast "The Sudden Death" - Trump The Arrest of The Deep State Masters
Trump News Channel



https://rumble.com/v6spisz-alex-jones-emergency-broadcast-the-sudden-death-trump-the-arrest-of-the-dee.html?e9s=src_v1_ucp

CANADA




$15 Billion And Climbing: Trump’s Tariffs Deliver Record High Revenue

U.S. Customs duty collections soared more than 60% in April, marking the highest monthly revenue
haul in terms of dollars in American history.

According to newly released Treasury Department data reviewed by Bloomberg, at least $15.4 billion
in customs duties and related excise taxes flowed into federal coffers last month, $6 billion more than
the month before. This spike in revenue coincides with the first wave of President Donald Trump’s
newly implemented tariffs taking effect.

https://dailycaller.com/2025/04/25/15-billion-and-climbing-trumps-tariffs-deliver-record-high-revenue/

Trump demands free passage through Panama, Suez Canals for US ships
US President said that 'those canals would not exist without the United States of America'
26 Apr, 15:01



WASHINGTON, April 27. /TASS/. US President Donald Trump has called for free passage through
the Panama and Suez Canals for American warships and merchant ships.

"American ships, both military and commercial, should be allowed to travel, free of charge, through
the Panama and Suez Canals!" he wrote on his Truth Social page.

"Those canals would not exist without the United States of America. I’ve asked Secretary of State
Marco Rubio to immediately take care of, and memorialize, this situation," he added.

SG Anon BOMBS AWAY 4.27.25 - Vaxx Lawsuits, An Emergency Reset Coming
Trump News Channel



https://rumble.com/v6snaan-sg-anon-bombs-away-4.27.25-vaxx-lawsuits-an-emergency-reset-coming.html?e9s=src_v1_ucp

Whistleblower Bombshell: Biden, Obama, And Hillary Betrayed Seal Team 6
Trump News Channel - 3 MASS-MURDERS ABOVE THE LAW? - because bolshevistic law
in USA?



https://rumble.com/v6sn86n-whistleblower-bombshell-biden-obama-and-hillary-betrayed-seal-team-6.html?e9s=src_v1_ucp

Stop the Digital Control Grid – Catherine Austin Fitts
Greg Hunter's USAWatchdog.com
73.2K follower



https://rumble.com/v6sl5ut-stop-the-digital-control-grid-catherine-austin-fitts.html?e9s=src_v1_ucp

Brunson & Trump: The Brunson Case Latest Updates - 26 April
Trump News Channel



https://rumble.com/v6slodl-loy-brunson-and-trump-the-brunson-case-latest-updates-26-april.html?e9s=src_v1_ucp

Segovia Operations: one of the world’s highest-grade gold mines
Asset Overview
• Located in a historic mining
district of Antioquia
• Strong community support,
underpinned by
partnership with CMPs
• Hydro power serving as
main power source
10.8 g/t reserve grade1
, 16.1 g/t resource grade (M&I)1



https://wp-arismining-2023.s3.ca-central-1.amazonaws.com/media/2025/03/Aris-Mining-Corporate-Presentation-April-2025.pdf

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=176052209

Trump Expose Adrenochrome - Everything You Need To Know: 9-11, The Vaccines, JFK Assassinatio
Trump News Channel



https://rumble.com/v6sluy3-trump-expose-adrenochrome-everything-you-need-to-know-9-11-the-vaccines-jfk.html?e9s=src_v1_ucp

Pakistan Does Mass Deportations
308 Views - 49 minutes ago



https://www.bitchute.com/video/Qur70rAat_A

Trump demands Kiev sign minerals deal ‘immediately’
A formal agreement should have been sealed three weeks ago, the US President TRUMP has said
IT USED TO BE 45 MILLLION HAPPY PEOPLE IN UKRAINE BEFORE THE EVIL
WAR-MONGLERS MADE GENOCIDE AND MASS-KILLINGS -

TRUMP IS THE ONLY PEACEMAKER WHO WANT TO SAVE >5000 SOLDIERS WEEKLY



https://www.rt.com/news/616344-trump-ukraine-minerals-immediately/

How D.C. Lobbying REALLY Works and The Congress COUP Against Trump w/ Congressman Thomas Massie
Winston Marshall




https://rumble.com/v6roygx-how-d.c.-lobbying-really-works-and-the-congress-coup-against-trump-w-congre.html?e9s=rel_v2_ep

Sarge Major Intel 4.26.25 - New Q Drops! Nothing Can Stop What is Coming!
Trump News Channel



https://rumble.com/v6slu5l-sarge-major-intel-4.26.25-new-q-drops-nothing-can-stop-what-is-coming.html?e9s=src_v1_ucp

CHEMTRAILS: Follow the Fallout
ScrewBigGov
41.6K followers




https://rumble.com/v6slcv3-chemtrails-follow-the-fallout.html?e9s=src_v1_news

NESARA-GESARA Update April 2025 - No One Expected What's Next
Trump News Channel



https://rumble.com/v6sldkz-nesara-gesara-update-april-2025-no-one-expected-whats-next.html?e9s=src_v1_ucp

What Trump Just Did In The Oval Office Has World Leaders BLOWING Up His Phone!
Trump News Channel




https://rumble.com/v6slcgh-what-trump-just-did-in-the-oval-office-has-world-leaders-blowing-up-his-pho.html?e9s=src_v1_ucp

Trump Handcuffed! What The Hell's Going On?!
Trump News Channe



https://rumble.com/v6sld6n-trump-handcuffed-what-the-hells-going-on.html?e9s=src_v1_ucp

General Flynn & Nino Rodriguez Urgent Emergency 4.25.25 - Where Are the Arrests
Trump News Channel



https://rumble.com/v6sl2ct-general-flynn-and-nino-rodriguez-urgent-emergency-4.25.26-where-are-the-arr.html?e9s=src_v1_ucp

BREAKING: Why Federal Agents Just Stormed A Courthouse - The Details Will Leave You Speechless!🚨
Next News Network
61.8K Subscribers



https://www.bitchute.com/video/R80-Z9Z_uaY

BlueEyes - The Dawn Of The "Golden Age" Of America.
Rolling With You



https://rumble.com/v6skqe3-blueeyes-the-dawn-of-the-golden-age-of-america..html?e9s=src_v1_ucp

🚨BREAKING: 100+ Countries Suddenly Begging For US Deals! What Did Trump's Treasury Dept Just Do?🚨
NextNewsNetwork
52.3K followers



https://rumble.com/v6sijlb-breaking-100-countries-suddenly-begging-for-us-deals-what-did-trumps-treasu.html

What Trump Said About Obama In The Oval Office Has Foreign Leaders APPLAUDING!
Trump News Channel



https://rumble.com/v6sk6ox-what-trump-said-about-obama-in-the-oval-office-has-foreign-leaders-applaudi.html?e9s=src_v1_ucp

Walking Away from the Ukraine War & Restoring Strategic Clarity - Glenn Diesen 4/24/2025
608 Views - 3 hours ago
Douglas Macgregor TV2



https://www.bitchute.com/video/oKYpOydfP7Hc

Benjamin Fulford DROP BOMBSHELL 4.24.25: Trump "Next Phase"
Trump News Channel
34.1K followers



https://rumble.com/v6simtt-benjamin-fulford-drop-bombshell-4.24.25-trump-next-phase.html?e9s=src_v1_ucp

Trump was pressed by the media Tuesday afternoon about whether he was considering bonuses
for moms whenever they have a child, following reports his administration heard a similar pitch
that could mean up to $5,000 in extra cash for moms after giving birth.

“Sounds like a good idea to me,” Trump said briefly before jumping to another question.



https://thehill.com/business/5262024-trump-says-bonuses-for-moms-after-they-have-child-sounds-like-a-good-idea/

Trump's Chemtrails Task Force Makes First Major Geoengineering Arrest in U.S.
Trump News Channel



https://rumble.com/v6siexp-trumps-chemtrails-task-force-makes-first-major-geoengineering-arrest-in-u.s.html?e9s=src_v1_ucp

STEVE BANNON'S WAR ROOM AM EDITION
RealAmericasVoice



https://rumble.com/v6si8kp-steve-bannons-war-room-am-edition.html?e9s=src_v1_news

KING WORLD NEWS NOTE: This Has Not Been An Ordinary Move,
This Is Gold Reclaiming Its Role As The Dominant World Currency



https://kingworldnews.com/one-of-the-most-significant-breakouts-in-history-is-finally-in-the-making/

RE: let ARIS GOLD MINES keep going up up up and away.
Well it said: bitcoin to fiat 100K no surprise, gold real money -
gold one ounce fly to fiat $one million/OZ -

JV Article: Aris boosts gold production in Colombia



https://www.northernminer.com/news/jv-article-aris-boosts-gold-production-in-colombia/1003877204/

Douglas Macgregor Shares DISTURBING Message - They Didn't Want You To Know 4.23.25
Trump News Channel



https://rumble.com/v6sgtkt-douglas-macgregor-shares-disturbing-message-they-didnt-want-you-to-know-4.2.html?e9s=src_v1_ucp

https://www.zerohedge.com/political/bug-and-tug-wef-investigates-klaus-schwab-over-room-massages-and-other-allegations

https://youtu.be/NpoCSf2olGs

https://www.zerohedge.com/political/afd-now-germanys-most-popular-party-first-time-ever-ban-efforts-escalate

https://www.zerohedge.com/political/building-7-controlled-demolition-republican-senator-plans-shock-911-hearings-says-my-eyes

NOVAGOLD and Paulson Advisers Announce $1 Billion Transaction
to Acquire 50% of the Donlin Gold Project From Barrick
April 22, 2025



https://novagold.com/novagold-and-paulson-advisers-announce-1-billion-10056/

Trump wants direct talks with Xi – Politico
The US president is reportedly not interested in informal diplomatic contact with China on trade



https://www.rt.com/news/616077-trump-wants-talks-xi/

Loy Brunson on the major shocking information thats going to be released on TAXATION
GHardJoe



https://loybrunson.com/

https://rumble.com/v6s5ub7-loy-brunson-on-the-major-shocking-information-thats-going-to-be-released-on.html

Dr. Jim Willie PhD Urgent Emergency 4.22.25 - This Is NOT the People's Debt; It’s Congress's!
Trump News Channel



https://rumble.com/v6sf8fh-dr.-jim-willie-urgent-emergency-4.22.25-this-is-not-the-peoples-debt-its-co.html?e9s=src_v1_ucp

[Sittingduck1]

Gold prices are looking like they are going down today

[DiscoverGold]

$GDX #Miners - 'Diamond' Latest Near 20% Pump from the 'Pattern'...
By: Sahara | April 14, 2025

🔸 $GDX #Miners - 'Diamond' Latest

Near 20% Pump from the 'Pattern'...



Read Full Story »»»

DiscoverGold

[DiscoverGold]

NY Gold Futures »» Weekly Summary Analysis
By: Marty Armstrong | April 12, 2025

NY Gold Futures closed today at 32446 and is trading up about 22% for the year from last year's settlement of 26410. As of now, this market has been rising for 3 months going into April reflecting that this has been only still, a bullish reactionary trend. As we stand right now, this market has made a new high exceeding the previous month's high reaching thus far 32630 while it has not broken last month's low so far of 28663. Nevertheless, this market is still trading above last month's high of 31620.

ECONOMIC CONFIDENCE MODEL CORRELATION

Here in NY Gold Futures, we do find that this particular market has correlated with our Economic Confidence Model in the past. The Last turning point on the ECM cycle low to line up with this market was 2022 and 2015. The Last turning point on the ECM cycle high to line up with this market was 2024 and 2020 and 2011 and 1996.

MARKET OVERVIEW
NEAR-TERM OUTLOOK

The NY Gold Futures has continued to make new historical highs over the course of the rally from 2015 moving into 2025. However, this last portion of the rally has taken place over 10 years from the last important low formed during 2015. Noticeably, we have elected four Bullish Reversals to date.

This market remains in a positive position on the weekly to yearly levels of our indicating models. Pay attention to the Monthly level for any serious change in long-term trend ahead.

Solely focusing on only the indicating ranges on the Daily level in the NY Gold Futures, this market remains in a bullish position at this time with the underlying support beginning at 31602.

On the weekly level, the last important high was established the week of April 7th at 32630, which was up 21 weeks from the low made back during the week of November 11th. So far, this week is trading within last week's range of 32630 to 29704. Nevertheless, the market is still trading upward more toward resistance than support. A closing beneath last week's low would be a technical signal for a correction to retest support.

When we look deeply into the underlying tone of this immediate market, we see it is currently still in a semi neutral posture despite declining from the previous high at 32630 made 0 week ago. This market has made a new historical high this past week reaching 32630. Here the market is trading positive gravitating more toward resistance than support. We have technical support lying at 29774 which we are still currently trading above for now.

Right now, the market is above momentum on our weekly models hinting this is still bullish for now as well as trend, long-term trend, and cyclical strength. Looking at this from a wider perspective, this market has been trading up for the past 16 weeks overall.

INTERMEDIATE-TERM OUTLOOK

YEARLY MOMENTUM MODEL INDICATOR

Our Momentum Models are rising at this time with the previous low made 2023 while the last high formed on 2024. However, this market has rallied in price with the last cyclical high formed on 2024 warning that this market remains strong at this time on a correlation perspective as it has moved higher with the Momentum Model.

Interestingly, the NY Gold Futures has been in a bullish phase for the past 17 months since the low established back in October 2023.

Critical support still underlies this market at 26170 and a break of that level on a monthly closing basis would warn that a sustainable decline ahead becomes possible. Nevertheless, the market is trading above last month's high showing some strength.

DiscoverGold

[trunkmonk]

u add no value with those charts, sorry, they are 101 at best. u should try and post on boards that will appreciate them

[trunkmonk]

wow in 2019 your chart was pointing down, and your sarcasm sucked even then. how much did you lose shorting it???

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=150283912

now i know where you were back then, slithering in the metals background, then came to crypto when i started watching and buying. your always wrong, always, u just luck out with posts in the direction of travel after it happens, or long before, and make a big deal of it. in a nut shell, ur nuts

your other dumb post from a few days ago. its there right now, but you will post some stupid post to distract the truths

How come we don't see no "50" here ?

[nowwhat2]

"tthen came to crypto when i started watching and buying. shut the you know what up".

Say WHAT ????.....What a kook !

[nowwhat2]

And just WHEN have you EVER posted ANY "real analysis" ?
Your pointless posts make pointless accusations (to hide your inability to analyse).

Plus, what're you freaking TALKING about - me "trying to get people to subscribe and pay" ????


"You can't BUY no charts like this !"......






"You can't BUY no charts like that !"......



Yeah - So if / when I post something along those lines......?

Your ASSumption is that I'm striving to drum up subscribers....


OMG you freaking people......😂🤣😅

.

[trunkmonk]

ive never seen that post, your pointless posts make pointless accusations to hide your inability to make calls says volumes. u never answer anyones questions, say its all in the charts, and I think it was you that is trying to get people to subscribe or pay for your crap while you miss or put down real analysis i have posted in the past. why am i wasting my time with you, one might ask, I want as many people as possible to see through you.

[nowwhat2]

You clearly don't know what yer talkin' about dude.....
I know more about gold stocks than you'll EVER know.


https://investorshub.advfn.com/boards/read_msg.aspx?message_id=151556343





6 YEARS LATER ;



Ruler-Line freaking city d-bag


.

[trunkmonk]

now that its at 50, lets see how far it resets before next run up

[trunkmonk]

Ill remind u stalker boy

How come we don't see no "50" here ?

its now above 50, u were wrong again, or ur charts suck. if you have real charts that did anything you would not have posted anything, but u couldnt help it, cause ur charts dont do anything other than post yesterdays news.

[trunkmonk]

wow in 2019 your chart was pointing down, and your sarcasm sucked even then. how much did you lose shorting it???

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=150283912

now i know where you were back then, slithering in the metals background, then came to crypto when i started watching and buying. shut the you know what up.

[nowwhat2]

Your relentlessly snide insults throughout this website, constitute a (your) severe form of stalking.
Hypocracy not surprisingly, is clearly your strongest suit.

[trunkmonk]

😁🚀🚀💥

[trunkmonk]

going up here, dont care about the random charts posted by nownothing

[trunkmonk]

evidently ur on the wrong board, first i have heard of you pretending to own it, and I dont care, ur the stalker not me. and you were totally embarrassed by making a dumb statement so you have to post crap to hide it. should i just randomly post big gain charts whenever i am wrong, thus changing the topic totally. Freaks

[nowwhat2]

Well, evidently you can't SEE just how much my AGI has outperformed (by a mile) anything YOU have suggested.

But please do keep it up - You're making me look like a genius.


PS : I'm sorry that you have such HUGE denial, anger and mental block issues.

[trunkmonk]

so you post the evidence again, and your still in denial....mental blocks, issues, lack of ???
keep it up, u make me look like a genius.

oh no, it just broke 50......GD Freaks

[nowwhat2]

This never happened proving in fact that they actually truly know nothing ;

Quad hour in March gonna result in assaulting 50.

One is FAR better off listening to someone who DOES.....but whatever......Ha ! - ho hum.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=171481537















Meanwhile, elsewhere ;

[trunkmonk]

not bad, 🚀hit 49.945, 🚀id say that is close enough. so many...know so little....and refuse to learn cause they think they know.🤣😂but in fact they know nothing

[DiscoverGold]

$GDX #Miners - $48 Target Hit...
By: Sahara | April 11, 2025

🔸 $GDX #Miners - $48 Target Hit...



Read Full Story »»»

DiscoverGold

[DiscoverGold]

Gold Mining Stock Newmont Corp. (NEM) Extends Rally on Upgrade
By: Isabelnet | April 11, 2025

🔸 UBS upgraded NEM to "buy" and hiked its price target to $60

🔸 Despite a solid year-to-date performance, many analysts are still on the fence

Amid President Donald Trump’s sweeping tariff plans, gold stocks have become a hot commodity. One standout is Newmont Corporation (NYSE:NEM), which is surging today -- last seen up 7.6% at $54.80 -- after UBS upgraded the gold producer to “buy” from “neutral.” The brokerage also boosted its price target to $60 from $50, citing an “incrementally more supportive” macro environment for gold and noting Newmont’s strong cash returns.

Today’s pop extends an already impressive run. NEM is up 36.9% year to date and is on pace for its fifth-straight daily gain, as well as its fifth weekly win in the last six weeks. The stock is now trading at its highest level since October 2024, though the $54 level appears to be acting as short-term resistance.

Despite the strong technical setup, sentiment still has room to improve. Eight of the 18 analysts covering Newmont stock maintain a “hold” or worse rating. Continued strength could pressure these skeptics to upgrade their outlook, potentially adding fuel to the stock’s rally as Wall Street catches up to the price action.

Read Full Story »»»

DiscoverGold

[DiscoverGold]

$GDXJ #Miners - Pushing up from the 'Bowl' Line...
By: Sahara | April 10, 2025

🔸 $GDXJ #Miners - Pushing up from the 'Bowl' Line

Note the inlaid chart shows us aiming for the 8th Target from that 'Coil' Pattern at $61...



Read Full Story »»»

DiscoverGold

[trunkmonk]

it went to 47 dingy, i see it getting even closer on this run, I see you are stalking, and even waiting for the dips to dip off about misses. never seen a good call from you, when u gonna start?

[DiscoverGold]

$GDX #Miners - 'Diamond'...
By: Sahara | April 9, 2025

• $GDX #Miners - 'Diamond'

On the the Micro Chart I inlaid on my prior post showing the Wave-Count formed a 'Diamond and has popped...



Read Full Story »»»

DiscoverGold

[DiscoverGold]

$GDX #Miners - I expected a drop from my $46.80 Target, and thought that 20/MA was it...
By: Sahara | April 7, 2025

• $GDX #Miners - Blimey

The recovery I mentioned on Thursday was even more short-lived than the perceived correction to the 20/MA.

I expected a drop from my $46.80 Target, and thought that 20/MA was it. Not so With the general downdraught we even cut the 50/MA.

Maybe we see this bounce a bit futher or has now concluded its drop (See inlay for Wave-Count)



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Gold CoT: Peek Into Future Through Futures, How Hedge Funds Are Positioned
By: Hedgopia | April 5, 2025

• Following futures positions of non-commercials are as of April 1, 2025.

Gold: Currently net long 238.4k, down 11.4k.



Gold has been rallying since December 30th last year when it ticked $2,608. Going into this week, it had rallied for 12 out of 13 weeks. If this week’s highs held, the positive momentum would have extended to 13 out of 14, but that was not to be. The yellow metal reversed lower after tagging $3,164 on Thursday, and the reversal took place in a risk-off week. For the week, it fell 1.4 percent to $3,040/ounce and was up 2.6 percent at Thursday’s fresh all-time high.

Before this week’s reversal, gold has remained extended on nearly all timeframes. It just about went parabolic for over a year. In February last year, the yellow metal touched $1,984. Unwinding probably lies ahead.

In the event of selling pressure, a lot depends on if gold bugs will be able to defend $3,000 and $2,940s-50s after that.

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NY Gold Futures »» Weekly Summary Analysis
By: Marty Armstrong | April 5, 2025

NY Gold Futures closed today at 30354 and is trading up about 14% for the year from last year's settlement of 26410. Up to now, this market has been rising for 3 months going into April reflecting that this has been only still, a bullish reactionary trend. As we stand right now, this market has made a new high exceeding the previous month's high reaching thus far 32016 while it has not broken last month's low so far of 28663. Nevertheless, this market is currently trading below last month's close of 31503.

ECONOMIC CONFIDENCE MODEL CORRELATION

Here in NY Gold Futures, we do find that this particular market has correlated with our Economic Confidence Model in the past. The Last turning point on the ECM cycle low to line up with this market was 2022 and 2015. The Last turning point on the ECM cycle high to line up with this market was 2024 and 2020 and 2011 and 1996.

MARKET OVERVIEW
NEAR-TERM OUTLOOK

The NY Gold Futures has continued to make new historical highs over the course of the rally from 2015 moving into 2025. However, this last portion of the rally has taken place over 10 years from the last important low formed during 2015. Noticeably, we have elected four Bullish Reversals to date.

This market remains in a positive position on the weekly to yearly levels of our indicating models. Pay attention to the Monthly level for any serious change in long-term trend ahead.

From a perspective using the indicating ranges on the Daily level in the NY Gold Futures, this market remains moderately bearish position at this time with the overhead resistance beginning at 30475 and support forming below at 30082. The market is trading closer to the resistance level at this time.

On the weekly level, the last important high was established the week of March 31st at 32016, which was up 20 weeks from the low made back during the week of November 11th. So far, this week is trading within last week's range of 32016 to 30327. Nevertheless, the market is still trading downward more toward support than resistance. A closing beneath last week's low would be a technical signal for a correction to retest support.

When we look deeply into the underlying tone of this immediate market, we see it is currently still in a semi neutral posture despite declining from the previous high at 32016 made 0 week ago. Still, this market is within our trading envelope which spans between 27200 and 30882. This market has made a new historical high this past week reaching 32016. Here the market is trading weak gravitating more toward support than resistance. We have technical support lying at 30827 which we are currently trading below implying the market is very weak. This infers that this level will now be resistance. Our Major Channel Support lies at 29231 and a break of that level would be a bearish indication for this market.

Right now, the market is above momentum on our weekly models hinting this is still bullish for now as well as trend, long-term trend, and cyclical strength. Looking at this from a wider perspective, this market has been trading up for the past 15 weeks overall.

INTERMEDIATE-TERM OUTLOOK

YEARLY MOMENTUM MODEL INDICATOR

Our Momentum Models are rising at this time with the previous low made 2023 while the last high formed on 2024. However, this market has rallied in price with the last cyclical high formed on 2024 warning that this market remains strong at this time on a correlation perspective as it has moved higher with the Momentum Model.

Interestingly, the NY Gold Futures has been in a bullish phase for the past 17 months since the low established back in October 2023.

Critical support still underlies this market at 26170 and a break of that level on a monthly closing basis would warn that a sustainable decline ahead becomes possible. Nevertheless, the market is trading above last month's high showing some strength.

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[nowwhat2]

How come we don't see no "50" here ?

Quad hour in March gonna result in assaulting 50.

October 2024






August '22

[trunkmonk]

again there are so few that understand gold, or real money, and its value to world wide fiat system. gold to 33k, there is no other way

[DiscoverGold]

Gold Stocks Defy Markets
By: Adam Hamilton | April 4, 2025

Gold stocks are increasingly standing out in stock markets slammed by Trump’s massive tariffs. While general stocks plunge into a deeper correction threatening a bear, gold stocks just broke out to a dozen-year secular high. The gold miners are earning their richest and fattest profits ever with gold prices so lofty, leaving their stocks deeply-undervalued. This sector will really shine even during a global trade war.

Holy cow, talk about wild markets this week! This happens to be my 1,168th weekly web essay, which I research, write, and proof on Thursdays before publishing early Fridays. So the necessary data cutoffs are Wednesdays’ closes. I did watch Trump’s “Liberation Day” press conference live, but I haven’t yet seen how Thursday’s market reactions will fully play out or what will happen after Friday morning’s jobs report.

Wall Street was desperately hoping Trump’s tariffs would be measured, but he went hard. He declared the US is imposing “discounted” reciprocal tariffs including 20% on the European Union, 25% on Mexico and Canada for goods not covered by the USMCA, and 34% on China! But total tariffs will be even higher on some countries, as those new tariffs are added on top of existing tariffs which already ran 20% for China.

This new tariff regime will be the highest imposed by the US for roughly a century, give or take a third of a century based on economists’ varying analyses. But way back then, global trade was far-smaller. So for all intents and purposes, markets are heading into uncharted territory. Here there be monsters! No one knows how this will all play out, the potential reactions, retaliations, and impacts too vast and complex to predict.

Maybe Trump’s bold gambit sledgehammering the world-trade status quo will pressure countries to remove many tariffs, leaving a much-fairer playing field for exporters everywhere. Or maybe it will spawn ever-escalating retaliatory tariffs collapsing global trade, fueling a worldwide recession or potentially even depression! Lobbing this hand grenade creates some of the greatest market uncertainty we’ve seen in our lifetimes.

Fears of how big Trump’s tariffs would prove were the main catalyst pounding the flagship S&P 500 down 10.1% from mid-February to mid-March. That edged into correction territory, formally slaying its colossal 49.2% AI-bubble upleg born in late October 2023! With the extreme bubble valuations that drove, a major stock selloff was inevitable sooner or later. If Trump’s tariffs were mild, a different catalyst would’ve arisen.

Yet during that stock-selloff span, gold climbed 1.5% which major gold stocks amplified by 2.6x with their leading GDX ETF rallying 4.0%. Midday Thursday as I pen this, markets are a bloodbath with Trump’s tariffs being way-more-aggressive than expected. The S&P 500 is plummeting another 4.4%, extending its total correction to 11.7%. Yet across that timeframe, gold has surged 6.5% with GDX powering 11.6% higher!

Gold and its miners’ stocks are defying markets, rallying through this mounting carnage. Gold has always been the ultimate portfolio diversifier, shining brighter when stock markets weaken. Material selloffs leave traders looking to alternatives from the usual mega-cap techs everyone piles into, boosting gold demand. Despite gold’s remarkable monster 71.6% upleg since early October 2023, diversification into gold is just starting.

Central banks have led the demand charge in shifting their massive US-dollar-dominated reserves more into gold. But American stock investors enthralled by the now-bursting AI stock bubble have just started buying. During that epic gold upleg, the combined gold-bullion holdings of the world-dominant US GLD and IAU gold ETFs merely climbed 6.3% or 80.3 metric tons. That’s unbelievably-small by historic standards.

Gold’s last 40%+ monster uplegs both crested in 2020, averaging hefty 41.4% gains. Their main driver was American stock investors piling into GLD and IAU shares. Their holdings builds averaged a huge 32.9% or 387.4t through those uplegs! That’s 4.8x what gold’s current monster upleg has seen so far. Because that AI stock bubble stole the limelight, American stock investors’ gold allocations are still near zero.

This Wednesday just before Trump unleashed hell, all the S&P 500 stocks’ total market capitalizations ran $50,866b. Yet the total value of GLD’s and IAU’s holdings was merely $136b. So this proxy indicates American stock investors only had less than 0.27% of their portfolios allocated to gold! Even if that merely returns to 1% or 2% which is still very-low, gold will see enormous capital inflows further bidding up its prices.

And as goes gold, so go gold stocks. The major gold miners dominating GDX tend to see their prices amplify material gold moves by 2x to 3x historically. During those last two monster gold uplegs peaking in 2020, GDX averaged 105.4% gains for 2.5x upside leverage. Yet through this current huge 71.6% gold upleg, GDX has only rallied 77.4% for 1.1x! Massive gold-stock gains are still coming to reflect their metal.

Gold-stock leverage to gold is fundamentally-driven, mirroring gold-mining earnings’ relationship with gold. Back in Q4’23 when its monster upleg was born, gold averaged $1,976. In the just-finished Q1’25, that soared 45.0% to $2,866! Meanwhile the GDX-top-25 gold miners’ all-in sustaining costs last quarter will likely average around $1,500 once reported by mid-May. That makes for sector implied unit profits of $1,366.

That will prove the highest ever by far, shattering Q4’24’s previous record of $1,207 per ounce! If this estimate is in the ballpark, the major gold miners’ earnings soared 101% doubling from Q4’23 to Q1’25 during this monster gold upleg. That makes for 2.2x upside leverage to their metal, fundamentally justifying their outsized stock gains relative to gold. And such colossal earnings growth is nothing new for this sector.

Right after every quarterly earnings season, I painstakingly analyze the GDX top 25’s results and write an essay about them. Q4’24 proved the sixth consecutive quarter of enormous stock-market-leading implied profits growth. These last six quarters clocked in soaring 87%, 47%, 35%, 84%, 74%, and 78% YoY! So this latest Q1’25 seeing another 100%ish would be right in line. Gold miners’ fundamentals are amazing.

My final essay of 2024 marveled at gold’s remarkable year, where foreign investors led by central banks usurped the gold-demand helm from American stock investors. All they cared about was the AI market-darlings led by NVIDIA. Interestingly it is faring far worse than the S&P 500 has recently, down 30.9% at worst midday Thursday for 2.6x downside leverage! Bubble-valued stocks plunge as fast as they soar.

My first essay of 2025 predicted this would prove gold stocks’ revaluation year. Since the much-higher gold prices have catapulted their earnings way higher, their stock prices need to soon blast way higher to reflect those fundamentals. The Friday we published that essay, GDX closed at $35.00 which was 25% lower than midday-Thursday levels. With gold stocks near recent lows, I got plenty of scoffing feedback.

That’s fine and normal, most traders wax bearish when prices are low and bullish when they are high. Unfortunately that’s the polar opposite of necessary fight-the-herd discipline required to buy low and sell high. Since this year dawned, sentiment has improved considerably with both the metal and its miners’ stocks surging. The longer and higher gold stocks mean revert relative to gold, the more enthusiasm grows.

In addition to phenomenal record fundamentals, gold-stock technicals are really improving. This chart looks at GDX over the past several years or so, illuminating this sector’s solid secular uptrend. Since plunging to a deep secular low in late September 2022, gold stocks have been carving higher lows and higher highs on balance. As of midday Thursday GDX is up 111.9% since then, compared to gold’s 92.6% gains.



As a small contrarian sector, mainstream investors usually ignore gold stocks. They don’t like to buy anything out of favor low, instead preferring to buy high chasing well-established upside momentum. That’s sure mounting in gold stocks, which along with dazzling record gold prices and general-stock selling should increasingly push this sector back onto investors’ radars. GDX is hitting major technical milestones.

In late March this leading gold-stock benchmark decisively broke out to a 12.2-year secular high! Over a month before that came to pass, I predicted it and explained why it was so important in a GDX dozen-year-breakout essay. In a nutshell, higher stock prices fueling expanding interest and capital inflows eventually produce enough upside momentum to reach a psychological tipping point of self-feeding buying...

* * *

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[DiscoverGold]

3 Gold Stocks Higher on Record Bullion Prices
By: Schaeffer's Investment Research | April 3, 2025

• Investors are turning to gold as stocks sell off in response to tariffs

• AEM, GOLD, and NEM sport healthy year-to-date gains

President Donald Trump's sweeping tariffs are driving today's market selloff. In times of economic uncertainty, traders usually turn to safe-haven assets such as gold, with prices earlier hitting record highs. This means it's time to check in with mining giants Agnico Eagle Mines Ltd (NYSE:AEM), Barrick Gold Corp (NYSE:GOLD), and Newmont Corporation (NYSE:NEM).

AEM is up 2.6% to trade at $110.33, despite bullion prices being lower at last glance. The security already added 41.2% in 2025, and is fresh off its April 1, all-time high of $158.10. The shares have relied on support from the 40-day moving average since January, which contained earlier losses. Longer term, Agnico Eagle mines stock sports an even healthier 79.1% year-over-year lead.

GOLD was last seen up 1.2% at $19.65, adding to a 26.3% year-to-date lead on its way to a third daily gain in four. The stock has struggled to conquer a ceiling at the $20 level after surging to its highest mark since October last week, but has maintained support at its own 40-day trendline so far this year.

Sporting a 31.4% lead for 2025, NEM is up 0.4% to trade at $48.92 at last check. Despite also hitting its highest level since October last week, the security previously struggled to overcome overhead pressure at the $50 level in March. Both the 20-day moving average and $46 level are providing support for the shares, though.

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$GDX #Miners - The rest from my $46.80 Target was short and sweet down to its 20/MA...
By: Sahara | April 3, 2025

• $GDX #Miners - Blimey

The rest from my $46.80 Target was short and sweet down to its 20/MA. (If that was it)

Being down nearly 5% earlier to up nearly 2%...



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$GDX #Miners - Congratulations!!! Target Hit ($46.80)...
By: Sahara | April 1, 2025

• $GDX #Miners - Congratulations!!!

Target Hit ($46.80)

Leaving a Bi/Daily 'Hammer' Candle indicating it may want to rest a while...



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[DiscoverGold]

Gold CoT: Peek Into Future Through Futures, How Hedge Funds Are Positioned
By: Hedgopia | March 29, 2025

• Following futures positions of non-commercials are as of March 25, 2025.

Gold: Currently net long 249.8k, down 8.1k.



As unreal as it may sound, gold has now rallied for 12 out of the last 13 weeks. This week, it added a couple of percent to $3,082/ounce, closing near Friday’s session high $3,086. The yellow metal has been rallying since ticking $2,608 on December 30th last year.

Not surprisingly, gold is extended on nearly all timeframes. It has just about gone parabolic for a year now. In February last year, the yellow metal touched $1,984. Gold bugs have done an excellent job of sustaining the up momentum, aided by breakouts followed by successful retests. This Friday, gold broke out of short-term resistance at $3,050s. In the event of selling pressure near term, this is the one to watch for now. After that lies $3,000 and $2,960s-70s.

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NY Gold Futures »» Weekly Summary Analysis
By: Marty Armstrong | March 29, 2025

NY Gold Futures closed today at 31143 and is trading up about 17% for the year from last year's settlement of 26410. Caution is required for this market is starting to suggest it may now decline on the MONTHLY level. Factually, this market has been rising for 2 months going into March reflecting that this has been only still, a bullish reactionary trend. As we stand right now, this market has made a new high exceeding the previous month's high reaching thus far 31244 while it has not broken last month's low so far of 28022. Nevertheless, this market is still trading above last month's high of 29740.

ECONOMIC CONFIDENCE MODEL CORRELATION

Here in NY Gold Futures, we do find that this particular market has correlated with our Economic Confidence Model in the past. The Last turning point on the ECM cycle low to line up with this market was 2022 and 2015. The Last turning point on the ECM cycle high to line up with this market was 2024 and 2020 and 2011 and 1996.

MARKET OVERVIEW
NEAR-TERM OUTLOOK

The NY Gold Futures has continued to make new historical highs over the course of the rally from 2015 moving into 2025. However, this last portion of the rally has taken place over 10 years from the last important low formed during 2015. Noticeably, we have elected four Bullish Reversals to date.

This market remains in a positive position on the weekly to yearly levels of our indicating models. Pay attention to the Monthly level for any serious change in long-term trend ahead.

Focusing on our perspective using the indicating ranges on the Daily level in the NY Gold Futures, this market remains in a bullish position at this time with the underlying support beginning at 30550.

On the weekly level, the last important high was established the week of March 24th at 31244, which was up 19 weeks from the low made back during the week of November 11th. So far, this week is trading within last week's range of 31244 to 30077. Nevertheless, the market is still trading upward more toward resistance than support. A closing beneath last week's low would be a technical signal for a correction to retest support.

When we look deeply into the underlying tone of this immediate market, we see it is currently still in a semi neutral posture despite declining from the previous high at 31244 made 0 week ago. This market has made a new historical high this past week reaching 31244. Here the market is trading positive gravitating more toward resistance than support. We have technical support lying at 30548 which we are still currently trading above for now.

Right now, the market is above momentum on our weekly models hinting this is still bullish for now as well as trend, long-term trend, and cyclical strength. Looking at this from a wider perspective, this market has been trading up for the past 14 weeks overall.

INTERMEDIATE-TERM OUTLOOK

YEARLY MOMENTUM MODEL INDICATOR

Our Momentum Models are rising at this time with the previous low made 2023 while the last high formed on 2024. However, this market has rallied in price with the last cyclical high formed on 2024 warning that this market remains strong at this time on a correlation perspective as it has moved higher with the Momentum Model.

Interestingly, the NY Gold Futures has been in a bullish phase for the past 16 months since the low established back in October 2023.

Critical support still underlies this market at 25400 and a break of that level on a monthly closing basis would warn that a sustainable decline ahead becomes possible. Nevertheless, the market is trading above last month's high showing some strength.

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[DiscoverGold]

$GDX has finally exceeded the 2020 high. Is this a real breakout?...
By: CyclesFan | March 29, 2025

• $GDX has finally exceeded the 2020 high. Is this a real breakout? No. It probably made a 22 week cycle high, or in other words, an intermediate term high. Unlike gold, it's unlikely to make a higher high in April.



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$GDX - From there we have these Hghr Targets to aim for...
By: Sahara | March 27, 2025

• $GDX - From there we have these Hghr Targets to aim for...



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[DiscoverGold]

Gold CoT: Peek Into Future Through Futures, How Hedge Funds Are Positioned
By: Hedgopia | March 22, 2025

• Following futures positions of non-commercials are as of March 18, 2025.

Gold: Currently net long 257.9k, up 21.8k.



There is no stopping the yellow metal. Gold added another 1.3 percent this week to $3,021/ounce, with Thursday registering a fresh intraday high of $3,057. This was an 11th up week in the last 12. Gold touched $2,608 on December 30th last year.

Not surprisingly, the metal remains overbought. In the event unwinding of this condition begins, what transpires at $2,960s-70s will be telling. Gold struggled at that range for two weeks last month before slightly coming under pressure and then bottoming on February 28th. The resistance was taken care of seven sessions ago.

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[DiscoverGold]

NY Gold Futures »» Weekly Summary Analysis
By: Marty Armstrong | March 22, 2025

NY Gold Futures closed today at 30214 and is trading up about 14% for the year from last year's settlement of 26410. Caution is required for this market is starting to suggest it may now decline on the MONTHLY level. As of now, this market has been rising for 2 months going into March reflecting that this has been only still, a bullish reactionary trend. As we stand right now, this market has made a new high exceeding the previous month's high reaching thus far 30652 while it has not broken last month's low so far of 28022. Nevertheless, this market is still trading above last month's high of 29740.

ECONOMIC CONFIDENCE MODEL CORRELATION

Here in NY Gold Futures, we do find that this particular market has correlated with our Economic Confidence Model in the past. The Last turning point on the ECM cycle low to line up with this market was 2022 and 2015. The Last turning point on the ECM cycle high to line up with this market was 2024 and 2020 and 2011 and 1996.

MARKET OVERVIEW
NEAR-TERM OUTLOOK

The NY Gold Futures has continued to make new historical highs over the course of the rally from 2015 moving into 2025. However, this last portion of the rally has taken place over 10 years from the last important low formed during 2015. Distinctly, we have elected four Bullish Reversals to date.

This market remains in a positive position on the weekly to yearly levels of our indicating models. Pay attention to the Monthly level for any serious change in long-term trend ahead.

Looking at the indicating ranges on the Daily level in the NY Gold Futures, this market remains moderately bullish currently with underlying support beginning at 30171 and overhead resistance forming above at 30475. The market is trading closer to the support level at this time.

On the weekly level, the last important high was established the week of March 17th at 30652, which was up 18 weeks from the low made back during the week of November 11th. So far, this week is trading within last week's range of 30652 to 29914. Nevertheless, the market is still trading downward more toward support than resistance. A closing beneath last week's low would be a technical signal for a correction to retest support.

When we look deeply into the underlying tone of this immediate market, we see it is currently still in a semi neutral posture despite declining from the previous high at 30652 made 0 week ago. This market has made a new historical high this past week reaching 30652. Here the market is trading weak gravitating more toward support than resistance. We have technical support lying at 30405 which we are currently trading below implying the market is very weak. This infers that this level will now be resistance. Our Major Channel Support lies at 27917 and a break of that level would be a bearish indication for this market.

Right now, the market is above momentum on our weekly models hinting this is still bullish for now as well as trend, long-term trend, and cyclical strength. Looking at this from a wider perspective, this market has been trading up for the past 13 weeks which from a timing perspective warrants concern.

INTERMEDIATE-TERM OUTLOOK

YEARLY MOMENTUM MODEL INDICATOR

Our Momentum Models are rising at this time with the previous low made 2023 while the last high formed on 2024. However, this market has rallied in price with the last cyclical high formed on 2024 warning that this market remains strong at this time on a correlation perspective as it has moved higher with the Momentum Model.

Interestingly, the NY Gold Futures has been in a bullish phase for the past 16 months since the low established back in October 2023.

Critical support still underlies this market at 25400 and a break of that level on a monthly closing basis would warn that a sustainable decline ahead becomes possible. Nevertheless, the market is trading above last month's high showing some strength.

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[DiscoverGold]

Gold Mid-Tiers’ Q4’24 Fundamentals
By: Adam Hamilton | March 21, 2025

The mid-tier and junior gold miners in this sector’s sweet spot for upside potential are finishing reporting an epic record quarter. Record-high gold prices combined with excellent cost control catapulted smaller gold miners’ profits to spectacular records! Well-outperforming majors with their strongest fundamentals ever, mid-tiers’ and juniors’ stocks still need to mean-revert far higher to reflect their huge growing earnings.

The leading mid-tier-gold-stock benchmark is the GDXJ VanEck Junior Gold Miners ETF. With $5.4b in net assets mid-week, it remains the second-largest gold-stock ETF after its big-brother GDX. That is dominated by far-larger major gold miners, though there is much overlap between these ETFs’ holdings. Still misleadingly named, GDXJ is overwhelmingly a mid-tier gold-stock ETF with juniors having little weighting.

Gold-stock tiers are defined by miners’ annual production rates in ounces of gold. Small juniors have little sub-300k outputs, medium mid-tiers run 300k to 1,000k, large majors yield over 1,000k, and huge super-majors operate at vast scales exceeding 2,000k. Translated into quarterly terms, these thresholds shake out under 75k, 75k to 250k, 250k+, and 500k+. Today only two of GDXJ’s 25 biggest holdings are true juniors!

Their Q4 outputs are highlighted in blue in the table below. Juniors not only mine less than 75k ounces per quarter, but gold output generates over half their quarterly revenues. That excludes streaming and royalty companies that purchase future gold output for big upfront payments used to finance mine-builds, and primary silver miners producing byproduct gold. But mid-tiers often make better investments than juniors.

These gold miners dominating GDXJ offer a unique mix of sizable diversified production, excellent output-growth potential, and smaller market capitalizations ideal for outsized gains. Mid-tiers are less-risky than juniors, while amplifying gold uplegs more than majors. So we’ve long specialized in the fundamentally-superior mid-tiers and juniors at Zeal, actively trading these smaller gold miners for a quarter-century now.

And what a time to own gold stocks! Gold forged over $3,000 per ounce for the first time in history this week, blasting this sector’s dominant GDX benchmark up to its long-awaited decisive dozen-year secular breakout! We aggressively added smaller gold-stock trades in our newsletters in recent months, and their unrealized gains are already running as high as +71%! Interest in gold stocks is surging as more records shatter.

For 35 quarters in a row now, I’ve painstakingly analyzed the latest operational and financial results from GDXJ’s 25-largest component stocks. Mostly mid-tiers, they now account for 68.5% of this ETF’s total weighting. While digging through quarterlies is a ton of work, understanding smaller gold miners’ latest fundamentals really cuts through the obscuring sentiment fogs shrouding this sector. This research is essential.

This table summarizes the GDXJ top 25’s operational and financial highlights during Q4’24. These gold miners’ stock symbols aren’t all US listings, and are preceded by their rankings changes within GDXJ over this past year. The shuffling in their ETF weightings reflects shifting market caps, which reveal both outperformers and underperformers since Q4’23. Those symbols are followed by their recent GDXJ weightings.

Next comes these gold miners’ Q4’24 production in ounces, along with their year-over-year changes from the comparable Q4’23. Output is the lifeblood of this industry, with investors generally prizing production growth above everything else. After are the costs of wresting that gold from the bowels of the earth in per-ounce terms, both cash costs and all-in sustaining costs. The latter help illuminate miners’ profitability.

That’s followed by a bunch of hard accounting data reported to securities regulators, quarterly revenues, earnings, operating cash flows, and resulting cash treasuries. Blank data fields mean companies hadn’t disclosed that particular data as of the middle of this week. The annual changes aren’t included if they would be misleading, like comparing negative numbers or data shifting from positive to negative or vice-versa.

Unfortunately Q4 results are harder to analyze than other quarters’. Reporting is way more spread-out, with US and Canadian companies respectively having long 60-day and 90-day deadlines after year-ends to file results with securities regulators! Further complicating things, some gold miners publish full-year numbers without breaking out Q4. So quarterly results have to be calculated by comparing prior quarters’.

Back in late January before any Q4 reporting, I analyzed why last quarter would prove gold miners’ best ever. Dazzling record gold prices along with mining-cost discipline would fuel miners’ richest-and-fattest profits in history. And boy the mid-tiers didn’t disappoint, achieving phenomenal results handily trouncing the majors’! The higher gold powers, the more apparent smaller gold miners’ superior fundamentals become.



That’s sure evident comparing the GDXJ top 25’s latest results with the GDX top 25’s, which I analyzed in another essay last week. One of smaller gold miners’ big advantages over larger ones is their ability to more-consistently achieve better production growth. Yet the GDXJ top 25’s total output last quarter fell a sharp 9.4% YoY to 3,217k ounces! Meanwhile GDX-top-25 majors enjoyed excellent 3.1%-YoY growth in Q4.

Fortunately that’s all due to a single big composition change among GDXJ’s upper ranks. A year ago in Q4’23, GDXJ’s managers inexplicably included Kinross Gold as this ETF’s second-biggest holding. KGC is actually a super-major that mined a colossal 547k ounces in that comparable quarter, almost a sixth of its GDXJ-top-25 total! Over the years GDXJ has seen various majors shuffled into and out of its ranks.

If the since-rightfully-booted Kinross Gold’s Q4’23 output is excluded from that quarter and replaced with the then-26th-largest GDXJ component’s, these elite mid-tiers’ total production actually grew an excellent 4.7% YoY in Q4’24! That’s not only better than the GDX-top-25 majors, but greatly outperformed global gold mining as a whole. According to the World Gold Council, global production slipped 0.2% YoY last quarter.

GDXJ should’ve never included any major gold miners producing over 250k ounces a quarter, as that’s what GDX is for. With both leading gold-stock ETFs run by the same company, there’s no need for any significant overlap in their holdings. Yet 19 of these GDXJ-top-25 stocks are also included in GDX, with fully 13 of them also GDX-top-25 ones! Nevertheless, way-different weightings ensure GDXJ outperformance.

GDXJ effectively slices away GDX’s ten largest holdings, primarily super-majors and majors. Most of those are deadweight, operating at huge scales too big to consistently grow production. That along with their stocks’ high market capitalizations seriously retards their stock performances. Those 19 GDXJ-top-25 stocks also in GDX have a 57.6% weighting in this mid-tier gold-stock ETF, 2.7x bigger than their 21.4% in GDX...

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Gold CoT: Peek Into Future Through Futures, How Hedge Funds Are Positioned
By: Hedgopia | March 15, 2025

• Following futures positions of non-commercials are as of March 11, 2025.

Gold: Currently net long 236.1k, down 7.2k.



Gold bugs forced another breakout on Thursday. The metal struggled at $2,960s-70s for two weeks before coming under pressure a tad. This Thursday, gold broke out of this hurdle to cross $3,000 intraday. Come Friday, in a long-legged doji session, it printed a new intraday high of $3,017 before closing at $3,001/ounce. For the week, the yellow metal added three percent. Since ticking $2,608 on December 30th, this was the 10th up week in 11.

In the sessions ahead, what transpires at $2,960s-70s will be telling.

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NY Gold Futures »» Weekly Summary Analysis
By: Marty Armstrong | March 15, 2025

This market made a new high today after the past 3 trading days. The market opened higher and closed higher. The immediate trading pattern in this market has exceeded the previous session's high intraday reaching 30171. Therefore, this market has rallied over the past 10 trading sessions and there is a potential to move up for another 9 days. This market is trading above our normal trading envelope which resides at 29845 suggesting it is strong and still in a breakout position. Additionally, this market is very strong while our projected overhead resistance stands at 30263 and 30394.

ECONOMIC CONFIDENCE MODEL CORRELATION

Here in NY Gold Futures, we do find that this particular market has correlated with our Economic Confidence Model in the past. Our next ECM target remains Wed. Jun. 4, 2025. The Last turning point on the ECM cycle low to line up with this market was 2022 and 2015. The Last turning point on the ECM cycle high to line up with this market was 2024 and 2020 and 2011 and 1996.

MARKET OVERVIEW
NEAR-TERM OUTLOOK

The NY Gold Futures has continued to make new historical highs over the course of the rally from 2015 moving into 2025. However, this last portion of the rally has taken place over 10 years from the last important low formed during 2015. We have elected four Bullish Reversals to date.

This market remains in a positive position on the weekly to yearly levels of our indicating models. Pay attention to the Monthly level for any serious change in long-term trend ahead.

From a perspective using the indicating ranges on the Daily level in the NY Gold Futures, this market remains in a bullish position at this time with the underlying support beginning at 29704.

On the weekly level, the last important high was established the week of March 10th at 30171, which was up 17 weeks from the low made back during the week of November 11th. So far, this week is trading within last week's range of 30171 to 28825. Nevertheless, the market is still trading upward more toward resistance than support. A closing beneath last week's low would be a technical signal for a correction to retest support.

When we look deeply into the underlying tone of this immediate market, we see it is currently still in a semi neutral posture despite declining from the previous high at 30171 made 0 week ago. This market has made a new historical high this past week reaching 30171. Here the market is trading positive gravitating more toward resistance than support. We have technical support lying at 28842 which we are still currently trading above for now.

Right now, the market is above momentum on our weekly models hinting this is still bullish for now as well as trend, long-term trend, and cyclical strength. Looking at this from a wider perspective, this market has been trading up for the past 12 weeks overall.

INTERMEDIATE-TERM OUTLOOK

YEARLY MOMENTUM MODEL INDICATOR

Our Momentum Models are rising at this time with the previous low made 2023 while the last high formed on 2024. However, this market has rallied in price with the last cyclical high formed on 2024 warning that this market remains strong at this time on a correlation perspective as it has moved higher with the Momentum Model.

Interestingly, the NY Gold Futures has been in a bullish phase for the past 16 months since the low established back in October 2023.

Critical support still underlies this market at 25400 and a break of that level on a monthly closing basis would warn that a sustainable decline ahead becomes possible. Nevertheless, the market is trading above last month's high showing some strength.

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[Boing x 2]

1,129,000 shares bought at the close Friday. 43plus million bucks. Wow!

Boing X 2

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Gold Stocks Are Catching Up to Physical Gold
By: David Keller | March 14, 2025

• Gold has dramatically outperformed the S&P 500 and Nasdaq in 2025.
• Gold prices remain in a primary uptrend, with our Market Trend Model reading bullish on all time frames.
• Gold stocks are outperforming physical gold, and could represent a "catch up" trade going into Q2.

I'm often asked whether it's better to play gold using an ETF that holds physical gold versus one that offers exposure to gold stocks. By focusing on the relative performance of gold stocks compared to gold futures, we can perhaps identify where opportunities could lie going forward.



Here we're showing the VanEck Vectors Gold Miners ETF (GDX), along with RSI and then the relative performance of GDX vs. GLD. When that ratio is sloping higher, gold stocks are outperforming physical gold. Going into the end of last year, the GLD was outperforming as gold stocks experienced a significant pullback. But, so far in 2025, we've noticed a strong reversal in relative performance which shows gold stocks are performing better.

The GDX is now testing its October 2024 high around $43.50, and we would consider a confirmed break above this level as an additional sign that gold stocks could continue a "catch up trade" versus physical gold. And with so many gold stocks starting to appear in the top decile of the StockCharts Technical Rating (SCTR), we see this as an area of emerging strength in the weeks to come.

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$GDX #Miners - Final Target Tapped. From that 'Inv H&S' Plot. $46.80 Target still waiting.....
By: Sahara | March 14, 2025

• $GDX #Miners - Final Target Tapped

From that 'Inv H&S' Plot. $46.80 Target still waiting.....



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Gold Miners’ Q4’24 Fundamentals
By: Adam Hamilton | March 14, 2025

The major gold miners are finishing reporting their best quarter ever! Lofty record gold prices combined with production growth and decent cost control to catapult unit profits to their highest levels ever witnessed. These wildly-bullish dynamics also fueled record revenues, bottom-line earnings, and operating cash flows. Gold-stock fundamentals have never been better, which will lead to massive mean reversions higher.

The GDX VanEck Gold Miners ETF remains this sector’s dominant benchmark. Birthed way back in May 2006, GDX has parlayed its first-mover advantage into an insurmountable lead. Its $13.8b of net assets mid-week dwarfed the next-largest 1x-long major-gold-miners ETF by nearly 12x! GDX is undisputedly the trading vehicle of choice in this sector, with the world’s biggest gold miners commanding most of its weighting.

Gold-stock tiers are defined by miners’ annual production rates in ounces of gold. Small juniors have little sub-300k outputs, medium mid-tiers run 300k to 1,000k, large majors yield over 1,000k, and huge super-majors operate at vast scales exceeding 2,000k. Translated into quarterly terms, these thresholds shake out under 75k, 75k to 250k, 250k+, and 500k+. Those two largest categories account for almost 54% of GDX.

Gold-stock performance has been mixed lately, reflecting the ongoing lack of interest in this contrarian sector. Year-to-date as of midweek, GDX has surged 23.6% higher. That amplified gold’s own rally by 2.1x, on the lower end of major gold stocks’ usual 2x-to-3x leverage to the metal that overwhelmingly drives their profits. The gold stocks are crushing the benchmark S&P 500 this year, which is down 4.8% YTD.

But zooming back out, the gold stocks have dreadfully lagged gold. It is enjoying a remarkable monster upleg clocking in with epic 62.2% gains across 16.7 months from early October 2023 to late February 2025! Yet during that span, GDX merely climbed 55.6%. Gold miners are not worth owning if their stock prices don’t well-outperform, as they heap big operational, geological, and geopolitical risks on top of gold trends.

Historically GDX has really shined in big gold uplegs. During the last 40%+ monster cresting in August 2020 at 40.0% exactly, GDX skyrocketed 134.1% for great 3.4x upside leverage! The major gold stocks ought to already be up 124% to 187% in today’s far-bigger gold upleg, which hasn’t seen a single 10%+ correction. Gold miners’ phenomenal fundamentals all but guarantee a massive revaluation higher is coming.

For 35 quarters in a row now, I’ve painstakingly analyzed the latest operational and financial results from GDX’s 25-largest component stocks. Mostly super-majors, majors, and larger mid-tiers, they dominate this ETF at 86.4% of its total weighting! While digging through quarterlies is a ton of work, understanding the gold miners’ latest fundamentals really cuts through the obscuring sentiment fogs shrouding this sector.

This table summarizes the operational and financial highlights from the GDX top 25 during Q4’24. These gold miners’ stock symbols aren’t all US listings, and are preceded by their rankings changes within GDX over this past year. The shuffling in their ETF weightings reflects shifting market caps, which reveal both outperformers and underperformers since Q4’23. Those symbols are followed by their current GDX weightings.

Next comes these gold miners’ Q4’24 production in ounces, along with their year-over-year changes from the comparable Q4’23. Output is the lifeblood of this industry, with investors generally prizing production growth above everything else. After are the costs of wresting that gold from the bowels of the earth in per-ounce terms, both cash costs and all-in sustaining costs. The latter help illuminate miners’ profitability.

That’s followed by a bunch of hard accounting data reported to securities regulators, quarterly revenues, earnings, operating cash flows, and resulting cash treasuries. Blank data fields mean companies hadn’t disclosed that particular data as of the middle of this week. The annual changes aren’t included if they would be misleading, like comparing negative numbers or data shifting from positive to negative or vice-versa.

Unfortunately Q4 results are harder to analyze than other quarters’. Reporting is way more spread out, with US and Canadian companies respectively having long 60-day and 90-day deadlines after year-ends to file results with securities regulators! Further complicating things, some gold miners publish full-year numbers without breaking out Q4. So quarterly results have to be calculated by comparing prior quarters’.

Despite all this, gold miners were set up for their best quarter ever primarily due to dazzling record gold prices. I wrote a whole essay explaining why back in late January, before any Q4 reporting. That proved true, and for the most part the major gold miners didn’t disappoint. They continue to enjoy an enormous earnings-growth streak unparalleled in all the stock markets. Traders should be flocking to gold stocks.



Right off the bat, the GDX-top-25 gold miners achieved excellent 3.1%-YoY production growth to 9,227k ounces! This finally ended a long seven-quarter streak of shrinkage, and proved much better than global gold mining as a whole. After every quarter the World Gold Council publishes gold’s best-available global supply-and-demand data in its fantastic Gold Demand Trends reports, which are always essential reading.

Last quarter the WGC reported global mine production slipped 0.2% YoY in Q4 to 30,660k ounces. That could change some in future GDTs, as the WGC’s analysts have to estimate miners’ outputs before all their quarterly reports. But seeing the majors apparently outperform their industry was impressive. Production growth helps finance mine expansions, mine-builds, and mine acquisitions, laying groundwork for future growth...

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