Gold Stocks ETF GDX & XGD

GDX is the Market Vectors Gold Miners ETF which tracks the GDM – AMEX Gold Miners Index. XGD is the iShares Canadian Gold Sector ETF which tracks the S&P/TSX Gold Index. Both ETFs allows investors and traders to gain diversified gold mining equity exposure. The main differences are: The XGD trades on the Canadian Toronto stock exchange and is priced with Canadian dollar while the GDX trades on the American stock exchange – AMEX and priced with US Dollar.

Long term (weekly chart) the XGD retraced about 61.8% of its recent up leg (wave 1) and bounced of the 2003 high. The GDX retraced about 50% of its recent up leg (wave 1) and bounced from the 50 weekly moving average zone.


Short term both GDX and XGD had a A – B –C correction (wave 2) , resistance at the diagonal line – I expect a strong rally once the trend line is broken.

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