Gold trades at $4,720 per ounce. Miner margins sit at $3,000+ per ounce of production, the strongest cohort unit economics in a decade. Zaid Khan, CEO of Manhattan Crypto Capital, on the GDX $85, $70, $55 buy complex and the $130 target on the MCC research desk.

Asset: VanEck Gold Miners ETF (NYSE: GDX) Timeframe: Monthly / Weekly (HTF bias) Vehicle Role: Defensive Cyclical / Inflation Hedge Fund Mandate: Gold Treasury + Tactical Torque Overlay Issue: December 30, 2025 1. Market Regime & Quant Score Market Regime: Primary Bull Structure → Late-Cycle Expansion (Overheated, Pullback Risk) Total Quant Regime Score: 78 / 100 Quant Breakdown (HTF-weighted): MA Structure (50W / 200W): 88% (strong bullish alignment) Trend Strength (

VanEck Gold Miners ETF (NYSE Arca: GDX) Asset: VanEck Gold Miners ETF (GDX) Timeframe: Weekly Vehicle Role: Gold Engine — Inflation Hedge / Crisis Insurance / Rotation Sink Fund Mandate: Long-only, cycle-aware hedge exposure with disciplined rotation Issue: December 19, 2025 1. Market Regime & Quant Score Weighted Quant Components (Weekly): MAs alignment: 82%Price remains above rising long-term moving averages; structural uptrend intact. DMI trend strength: 71%. Trend r