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home / news releases / GOAU - Gold-Stock Red October


GOAU - Gold-Stock Red October

The gold miners' stocks have largely ground sideways in the last couple months, consolidating their big mid-summer gains. That drift is slowly bleeding away greedy sentiment, but this sector remains really overbought. Gold stocks' dominant driver, gold, is even more overbought, and still facing a massive gold-futures-selling overhang. This makes October gold stocks' weakest month seasonally by far, particularly risky.

The gold stocks have enjoyed a big run since late May. Their leading benchmark and trading vehicle is the VanEck Vectors Gold Miners ETF (GDX). Birthed way back in May 2006, its first-mover

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Stock Information

Company Name: US Global GO Gold and Precious Metal Miners
Stock Symbol: GOAU
Market: NYSE

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