Gold Targets $13,000, But Miners Are Due to Drop
1 extracted signal · 0 resolved · 1 still active
Gareth SolowayIndependent analyst profile- Source published
- 20 Aug 2026, 17:00 UTC
- Recorded by Tahlil Plus
- 20 Aug 2026, 19:13 UTC
AI-generated source summary
The analysis focuses on gold and gold mining stocks (GDX, NEM) presenting a bullish outlook based on technical patterns. For gold (XAUUSD), the price has broken out of a descending wedge pattern and is approaching resistance near $2000. The analysis suggests that a pullback is likely but presents an opportunity to buy, with a potential target of $2090. The fail bound is set at $1950, invalidating the bullish short-term thesis. The presenter also highlights the strength in gold miners, specifically GDX and NEM, noting their significant rallies. GDX has broken out of a wedge and is approaching resistance, with a target of $105 and a fail bound at $96. NEM has filled a gap and is testing a key resistance level, with a target of $145 and a fail bound at $135. The analysis suggests that these moves are driven by a combination of technical factors and potentially broader economic forces, such as government monetary policy influencing the yield curve, which could drive demand for precious metals and mining stocks as a hedge against inflation or currency devaluation.
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Gareth Soloway
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