GDX - Gold Miners ETF: Inverse Head & shoulders

Gold prices have surged to unprecedented levels in light of recent trade policy changes. The announcement by US President Donald Trump regarding a new 25% tariff on essential imports such as cars, semiconductors, and pharmaceuticals has created a wave of uncertainty among investors. This risk-off sentiment has driven many to seek refuge in safe-haven assets like gold.

Nevertheless, this upward momentum may encounter challenges if a trade agreement with China comes to fruition. A successful deal could alleviate global trade tensions, leading to a decrease in gold demand and possibly resulting in selling pressure.

However sustained high bullion prices could prove to be a significant advantage for gold miners. The GDX ETF is showing a persistent inverse head and shoulders pattern, indicating potential for further gains.