Hi Matt, I’m in the UK and use IG index. I’ve opened a couple of Spot Gold longs. Hope this helps. Tim

How many DTE? 28 or 59… Futures are listed differently on TOS and TWorks… As far as the months go… Better to go by DTE’s…

I went long the /GC Dec contract today as that is what Interactive Brokers is showing as the continuous contract.

The miners tend to move largely in concert as a group & barring the temporary disconnects from time to time, the miners will follow the price of gold & silver although with greater percentage gains or losses than the metals.

As such, my views on the gold & silver miners meshes with my outlook for gold & silver, both of which I remain longer-term bullish on with an upside target on GLD around 174 (roughly 24% higher) and an upside target around 40.30 on GDX, about 46% higher. However, those targets are largely (but not exclusively) contingent on GLD & GDX breaking out above the bull flags that have been forming on the weekly charts. At the very least, gold & silver need to both make impulsive breakouts above the recent multi-month sideways trading ranges they’ve been in.

The long-term (weekly) chart of EXK looks quite constructive (bullish) to me & my longer-term target on the stock is around 5.84, about 150% above current levels. Other than pending/potential bullish developments on gold & silver mentioned above, I also need to see EXK first break & print a solid weekly candle above the lower downtrend line (once again) on this weekly chart (buy signal #1) and then take out the 3.20 level/upper TL with conviction (buy signal #2).

Always a possibility. However, a breakout to new highs in the broad market ($SPX/SPY) today and/or this week was highly likely due to the proximity to the previous all-time high which the market came within on Friday. As such, today’s breakout to new highs in the $SPX means stocks up which, in turn, means gold down (i.e.- risk-on when stocks rally which deflates the risk-off trades; gold & Treasuries).
The big question is “will this breakout to new highs in the broad market soon fail just as all 4 other breakouts to new highs (those separated by at least several weeks) soon fail just as all of those others did?” If so, then the upside in the stock market is very limited at this point while the downside in gold is also very limited. Should the stock market rally more than just a few percentage points from here, then gold will likely continue lower although not necessarily.