Gold Miners Aren't Concerned Over The Pullback In Gold, Nor Am I

 

Newmont Mining Corporation (NEM) courtesy of StockCharts.Com 

Barrick Gold Corp

Barrick Gold Corp (GOLD) courtesy of StockCharts.Com

GDX Gold Miners ETF

Vaneck Gold Miners ETF (GDX) courtesy of StockCharts.Com

Gold 

Gold futures courtesy of StockCharts.Com

Futures vs Miners

• Gold futures hit a new record high of $2078 on March 8. Since then it has fallen to $1923, a decline of $155.
• Newmont, GDX, and Barrick all shrugged off the pullback in gold.  
• Newmont (NEM) hit a new record high on Friday of $82.78, up 4.19%. And that is on a day in which the price of gold decline over $30. 
• GDX rallied 2.97%, and Barrick rallied 1.67% on Friday, also shrugging off a $30 decline in the price of gold.