Gold Miners ETF GDX Drops to Oversold Levels in 21 Sessions

The VanEck Gold Miners ETF (GDX) saw nearly 92% of its stocks trade below their 50-day moving average in 21 sessions, the lowest level since late July. Gold prices fell 3.19% to $3,983.91, sliding below $4,000 for the first time since July. About 90% of GDX components also trade below their 200-day average, the highest share in three months. Earlier extreme readings in March and December 2024 were followed by rebounds of 21.5% and 15.4% over the following month.