- While the year started with markedly higher gold prices, the resource sector is not seeing much benefit, according to Michael S. Fulp, the 'Mercenary Geologist.'
Gold prices pushed well above $1,900 at the start of 2023, and though the GDX did see a short-lived bump in January, it is now down 4% on the year. Despite better gold prices and gold miners widening their margins, Fulp said the broader market is not drawn to the precious metal space.