Gold and gold mining stocks have been going sideways all year now and people have forgotten about them and do not care about them. It will take a key rally through $25.50 on the VanEck Vectors Gold Miners ETF (GDX) to make people want to buy, as now all that matters to people in the markets is pure price action. They need to see rising prices to want to buy.
So when is this ever going to happen? I talked about that big question with Jordan, and came away with some interesting conclusions. Check out the full interview below.
The SPDR Gold Trust ETF (GLD) fell $0.03 (-0.02%) in premarket trading Tuesday. Year-to-date, GLD has gained 12.06%, versus a 17.49% rise in the benchmark S&P 500 index during the same period.
This article is brought to you courtesy of The Daily Gold.