Dear Steemit friends,
Here is a quick update on gold and GDX, which is an ETF holding some of the largest gold miners. Gold price has been very disappointing over the last three months. What do you guys see for gold moving into fall 2018?
What I see is that gold is very oversold and is due for some sort of a bounce up. Even if this bounce doesn't break above the magic resistance at $1370; I think a bounce should at least bring gold close to $1310 sometime in fall 2018.
At the same time, even if GDX doesn't rise above $25; I expect it to bounce at least up to the recent April highs at $23.4.
Share your views in the comments, and I will be glad to upvote the meaningful ones.