This afternoon, all of the leading gold mining stocks are coming under selling pressure. The popular Market Vectors Gold Miners ETF Trust (NYSEARCA:GDX) is trading lower by 0.65 cents to $46.48 a share. The trend on this leading ETF remains down as the GDX price is trading below the daily chart 50, and 200 moving averages. The GDX should have some short-term daily chart support around the $45.00 level. Short-term traders should watch for intra-day support around the $46.25 area.
Some of the leading gold mining stocks that are falling lower today include Newmont Mining Corp (NYSE:NEM), Goldcorp Inc (NYSE:GG), and Agnico-Eagle Mines Limited (USA) (NYSE:AEM). All of these stocks look very similar to the GDX, therefore, further downside is possible for all of these leading gold mining stocks.