Although we expected a rally in the gold mining sector, we have been surprised
by its strength and recent buying pressure. From the lowest ticks, Gold has
rallied less than 6% but GDX has gained 25% and GDXJ has soared 36%. This rebound
adds to the evidence that the gold stocks are leading the metal. That being
said, the gold stocks are approaching some strong resistance levels which coincide
with Trump's election victory.
Below we plot the weekly line charts of GDXJ (top), GDX and Gol
