Gold miners have surged about 20% from the latest gold buy zone, and an Investing.com analysis argues the move is not finished. The author says a weekly momentum indicator still reads oversold and suggests GDX will rise to $105.
An Investing.com analysis says most senior and intermediate gold producers gained about 20% in about a week from the latest buy zone, at about $76 for the GDX gold miners ETF. The author marks that zone at $3941 for gold.
Five buy zones in 2026 each delivered a 20% pop
The author counts five gold buy zones in 2026, including the current one. According to the analysis, all five saw gold stocks surge by the 20% marker the author uses as a profit booking point.
Gold itself is tumbling in early trading ahead of the CPI report, the author writes, calling the dip typical on many Tuesdays. The analysis says investors who have booked none of their gains may find their willpower tested.
Book some gains, keep the gold
The author urges investors to sell some gold stocks at 20% gains, and in some cases silver, for fiat money. Gold is different: once the buy is done, there are rarely any sells. The author prefers to sell silver for gold rather than for fiat.
Weekly Stochastics still reads oversold
The author relies on the Stochastics oscillator weekly chart, using the 14,5,5 series. Even after the 20% surge in GDX, it is still oversold, according to the analysis, which says the upside could perhaps be described as one of the greatest in the history of the gold market.
Further buy zones lie ahead if gold drops. The author says investors should be as ready to buy at $3500-$3200 as at $4900-$4700 and $5600-$5400.
The oscillator, the author says, suggests that as gold resumes its surge against fiat, GDX will rise to $105 and then to all-time highs.
Source: Investing.com
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