GDXU - GDXU And The Gold Boom: Timing Is Critical When Turbocharging Mining Stocks
2024-05-20 14:18:15 ET
Summary
- Gold reached a new high of $2,454.20 on the June COMEX futures contract on May 20.
- Gold mining shares operate on a leveraged model and can outperform gold on the upside and underperform when the price falls.
- Economic and geopolitical factors support a continuation of rising gold prices, making it a safe-haven asset.
- GDXU is a leveraged ETN that requires careful attention to risk-reward dynamics.
As it has done so many times in the bull market that began in 1999 at the $252.50 low, gold reached a new $2,454.20 high on the June COMEX futures contract on May 20. The June contract reached $2,448.80 on April 12, and corrected to just over the $2,285 level on May 3, where it found a bottom and rallied to a new and higher record peak on May 20....
GDXU And The Gold Boom: Timing Is Critical When Turbocharging Mining Stocks