NESRF - Junior Gold Miners Could Outperform

• Since March 13th, we have seen the VanEck Vectors Junior Gold Miners ETF generate gains of more than 183%, and bullish momentum is well above historical averages.
• Since we tend to identify contrarian trades found in a favorable macroeconomic context, we have argued for patience in waiting for a downside correction before entering into GDXJ long positions.
• Safe haven buying of precious metals in the face of continued macroeconomic uncertainty should help the junior gold miners maintain positive momentum in upcoming earnings reports.
• Potential for growth and a supportive metals pricing environment could make it possible for the VanEck Vectors Junior Gold Miners ETF to outperform even if we see broader stock market declines before the end of 2020.

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