Jun. 30 at 7:57 PM
$GLD and gold miners such as
$NEM,
$B,
$DTREF, and the junior miners ETF
$GDXJ appear to be entering a consolidation phase after the prior strong run in gold. Following a roughly 20% pullback from recent highs near
$5000 in futures (/GC), price action has been stabilizing.
This type of consolidation after a major move is often viewed as a potential setup phase, where momentum can rebuild if macro conditions and liquidity support another leg higher in the precious metals complex.