ETF Trends
ETF Trends

Exchange traded funds indexed to gold miner stocks were among the weakest ETF performers on Wednesday. Agnico-Eagle Mines (NYSE: AEM) fell nearly 20% after the company suspended operations at its Goldex mine in Quebec due to water inflows and ground instability.

Market Vectors Gold Miners (NYSEArca: GDX) slid 6% on Wednesday.

Meanwhile, a leveraged ETF that bets against gold miners was the top percentage gainers in ETFs — Direxion Daily Gold Miners Bear 2x Shares (NYSEArca: DUST) climbed 11.5%. [ETF Spotlight: Direxion Daily Gold Miners Bear 2x (DUST)]

Along with Agnico-Eagle, other mining stocks losing ground Wednesday included Goldcorp Inc. (NYSE: GG) and Newmont Mining Corp. (NYSE: NEM).

The gold miner ETF has been turned away at its 200-day moving average, a key technical indicator. [Miner ETF Hits Resistance]

Market Vectors Junior Gold Miners (NYSEArca: GDXJ) follows small-cap miners. The ETF lost nearly 7% on Wednesday.

Market Vectors Gold Miners

For more information on gold producers, visit our gold miners category.

Max Chen contributed to this article.

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.