Loading ...Proxy Wars
I don’t like the fact GDX doesn’t go back very far… so I took a look at the top 10 holdings and grab the 2 that had data going back to 1970’s.
That will now be my proxy for the “health” of the gold senior miners. They have a pretty good correlation to GDX itself… AND gold.
Looking great from my end…
Only 2 miners are your proxy for the sector?
Yep. Correlation with gdx is good enough for me. The blue chips are the last to go… so when these 2 monsters falter.. that is a huge warning sign.
These 2 are your canary in the coal mine… if the arc breaks.. then watch out closely at the health of gold itself
$XAU goes back to 1984.
Thanks Ken.. XAU looks good also. VERY high correlation to GDX. Could do the job. But for my long term historical analysis.. I like to have a peak what happened in 1970’s. Any other suggestions?
USERX goes back to 1974.
Damm. Tradingview doesn’t have that ticker…
I’m looking at the composition of gdxj… there are silver miners in there!?!? Maybe that is why they gdxj flies pretty high in the hieght of precious metals run. #digging
I’ve charted Barrick in the past for much the same reason 😉
Why AEM and not Barrick?
Those were the only 2 that went in late 60s and early 70s. Did Barrick change tickers? ABX really didn’t go back that far on tradingview. I’ll add it if I can find the good ticker.