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Gold Mining Stocks Plunge: Most GDX Holdings Fall Below 50-Day Moving Average

BeInCrypto · ·by G4L

GDX
GDX VanEck Gold Miners ETF
$86.49 -5.43%
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  1. 1The percentage of GDX stocks trading above the 50-day moving average shifted from over 90% to 8% over 21 trading days.
  2. 2Approximately 90% of GDX stocks recorded trading below the 200-day moving average.
  3. 3Gold prices recorded 3,983.91 dollars, a 3.19% decrease compared to one month ago.

So what's the key point?

Gold-related stocks are currently trading much lower than their recent average prices. As gold prices fell 3.19% compared to a month ago, the stocks are also struggling.

Source BeInCrypto · View original ↗

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