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.Note
NEM leading the majors today as expected.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.