Gold mining stocks — as represented by the Market Vectors Gold Miners ETF (NYSEARCA:GDX) — have seen beyond lousy performance year-to-date. However, the recent price action of both gold mining stocks and gold itself might be a sign of better times ahead.
With broader commodity deflation still well intact, particularly in the energy space, I am paying close attention to anything showing relative strength here. Gold mining stocks have done just that over the past few days after showing capitulatory signs for the past few weeks.
Read my full analysis HERE