An exchange traded fund indexed to small-cap gold miner stocks is among the best unleveraged ETFs over the past month with a gain of nearly 30%. Are miner ETFs going to finally catch up to the price of gold?
Market Vectors Gold Miners (NYSEArca: GDX) is a large-cap version. The two miner ETFs were on the list of top-performing funds last week after the Federal Reserve indicated it would keep rates ultra-low through 2014. [Gold Miner ETFs Soar After Fed’s Low-Rate Pledge]
Miner ETFs, which invest in stocks, have been lagging bullion prices in recent years but some analysts are looking for the shares to close the performance gap in 2012. [Miner ETFs Bounce Off 52-Week Lows]
Gold and miner ETFs gained ground last week after the U.S. reported disappointing GDP data.