Gold miners face technical headwinds as weak trading signals suggest further downside ahead. Analyst Paul Franke maintains a short-term sell rating on GDX, anticipating a potential twenty to thirty percent correction driven by credit contraction and broader equity market weakness. Fair value estimates of three thousand six hundred dollars for gold and fifty to fifty-five dollars for silver indicate current price levels remain vulnerable to significant pullback into early summer. With record low ease-of-movement readings signaling bearish momentum, investors may want to wait for a washout before adding exposure later in twenty twenty-six, barring unexpected geopolitical developments that could alter the outlook.
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