Gold Price Breakout and GDX Surge

Gold broke above $4,600 on Treasury buyback expansion, driving GDX up 14.3% in the latest week. Massive ETF inflows confirm the rally: precious metals ETFs pulled in $4.5B weekly, led by GLD at $3.4B, and Chinese gold ETFs saw sustained inflows. Ray Dalio advises 10-15% gold allocation. Agnico Eagle Mines surged 48.9% in 30 days on the rally and strong Q2 earnings. Technicals confirm uptrend but show resistance at $110-$115 for GDX, with RSI overbought suggesting a potential pullback. The rally is fueled by currency-debasement fears and institutional inflows.