Gold ETFs Getting Another Run.

6 ม.ค.

Global X Gold Explorers ETF (GOEX) has established a dominant uptrend throughout the past year, and after a brief period of consolidation, the price action suggests the bulls are positioning for a another run. As an ETF focused on the gold exploration sector, GOEX offers exposure to high-growth potential companies that are actively searching for new deposits, making it a distinct vehicle for capitalizing on precious metal strength.

Fundamentally, the ETF is benefiting from a macroeconomic environment favoring tangible assets. With the recent news of Fed rate cuts and lingering inflationary pressures mentioned in market summaries, gold explorers often serve as a leveraged play on the underlying commodity prices. Increased global uncertainty around the actions in Venezuela and mentions of Cuba and Columbia and Alaska have word markets on edge, which only feeds further into the Gold story. The fund’s focus on companies involved in discovery and evaluation means it carries higher volatility but also higher potential upside compared to established producers, attracting investors looking for aggressive growth in the materials sector.

Technically, the chart confirms significant strength, with the price currently trading at 83.89, well above the rising 50-day , 100-day, and 200-day SMAs. The recent pullback has cooled the RSI to 58.77, resetting from overbought levels to a sustainable zone for re-entry for those who previously thought they had missed out.

While the MACD shows a slight bearish crossover with a negative histogram of -0.57, the price resilience near the highs combined with volume holding steady suggests this may be a healthy pause rather than a reversal.

GOEX might be one to keep an eye on.

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6 ม.ค.

บันทึก

For a view of possible targets see my Minds post here:

tradingview.com/symbols/AMEX-GOEX/minds/?mind=054e8sakSj6U2OJ_bI9oSg

19 ม.ค.

บันทึก

Good move up on Gold. Can see it continuing its run for a while yet.