It’s going to take investors a while to get used to the idea that higher gold prices must eventually produce higher prices for mining stocks. However, their skittishness is understandable, given the pounding, false starts and countless disappointments gold bugs have endured since prices topped in 2011. This phase of the fledgling bull market targets 72.73 (monthly chart, A=19.52 in March 2020). However, for reasons of practicality and tradeability, we can use the daily chart shown (inset), with a 42.09 target and minimum upside over the near term to p=36.28.
GDXJ – Junior Gold Miner ETF (Last:34.71)