New High In Gold

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About: VanEck Vectors Junior Gold Miners ETF (GDXJ), Includes: AAAU, ASA, BAR, DGL, DGLD, DGP, DGZ, DUST, DZZ, GDX, GDXS, GDXX, GGN, GLD, GLDI, GLDM, GLDW, GLL, GOAU, GOEX, IAU, IAUF, JDST, JNUG, NUGT, OUNZ, PHYS, QGLDX, RING, SGDJ, SGDM, SGOL, UBG, UGL, UGLD
by: Andrew Hecht
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Andrew Hecht
Commodities, long/short equity, medium-term horizon, long-term horizon
Summary

Iran lit another bullish fuse.

Gold rises above the early September 2019 high.

The long-term picture remains bullish.

Levels to watch.

Exchanging UGLD for GDXJ to cut down on leverage and buy time on rallies.

Nearby gold futures on the COMEX division of the CME closed at $1523.10 per ounce on December 31. The yellow metal was 3.92% higher in the fourth quarter and moved 18.87% to the upside in