tipere445
Long

A big year ahead for gold miners

AMEX:GDX   VANECK VECTORS ETF TRUST GOLD MINERS ETF
Good day folks,

This is a comparison I made based on my GLD forecast for the next 12 months. I expect GLD to rise by 5 to 10% before year end. I calculated a few ratios and it appears that GDX moves exponentially with gold price (not a discovery I know). Basically, I wasn’t unable to use a distinct ratio, so I just compared their corresponding prices at the corresponding time.

I concluded that if GLD was raising by approx. 5-10% to my price target of 128 to 134.5, GDX would rise from 26.5 to 28. This is an upside potential of approximately 29 to 37% on the current price!

I am long.

Thank you,
Comment: GLD has reached my target, however GDX remains a bit lower than my projection. There is still almost 6 months before year end, this is promising.

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