Market Vectors Gold Miners ETF (NYSEArca: GDX) looks like it has a date with its 2008 low after losing two-thirds of its value in a prolonged sell-off.
The beleaguered ETF is down nearly 70% from its September 2011 high.
Gold miner stocks are falling harder than bullion prices amid speculation the Federal Reserve will step back from its monetary easing.
Including Wednesday’s 6% drop, GDX is down nearly 42% the past three months, while SPDR Gold Shares (NYSEArca: GLD) is off about 24%. [Another Manic Monday for Gold Miners]