Gold Stocks May Be Poised For A Massive Move Higher
Investing.com - Gold miners' stocks may be poised to rally sharply by the middle of March. The VanEck Gold Miners ETF (NYSE:GDX) has witnessed significant bullish option betting in recent weeks. It could result in the ETF rising by as much as 19.3% from its price of approximately $28 on Jan. 9.
The bullish options bets coincide with a sharp rise in the price of gold. The precious metal has seen its price rise by around 5% since Dec. 24, and based on the technical charts it could be heading even higher in the weeks and months ahead. The bullish set up in gold could be one reason why traders are making big bets on the gold miner sector rising.