An exchange traded fund that invests in gold miner stocks was down more than 3% on Tuesday as an attempt to break through its 52-week moving average was turned away.
Market Vectors Gold Miners ETF (NYSEArca: GDX) followed gold prices lower while stock ETFs enjoyed a 200-point rally in the Dow Jones Industrial Average.
SPDR Gold Shares (NYSEArca: GLD), which recently took the crown as the largest ETF by assets, was off nearly 2% in afternoon trading. [ETF Spotlight: GLD]
On Monday, Market Vectors Gold Miners ETF rose a little above $64 a share but failed to break its 52-week high of $64.62, which was recorded in late 2010. Miner shares have rallied this summer. [Gold Miner ETFs Rally Back Near Lifetime Highs]
Market Vectors Junior Gold Miners ETF (NYSEArca: GDXJ), which invests in small-cap miners, fell more than 2% on Tuesday.