Miners have been the strongest group on our industry table for some time, thanks to the impressive performance of Gold. Commodity bull markets tend to last many years, and based on historic trends, thereβs still room for this one to run higher.
Tactically, Gold Miners $GDX are now retesting their former all-time highs.
Given the strong rally GDX has already enjoyed, this would be a natural place for the ETF and the group to cool off and digest recent gains.
That would set the stage for a more decisive break to new all-time highs as the gold bull market continues to mature.
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