Exchange traded funds that bet against gold miner shares rallied Monday on weakness in the downtrodden sector.
Market Vectors Gold Miners (NYSEArca: GDX) was down 1.4% in recent trading after posting big gains last week. The sector has been a lackluster performer in 2012 with many investors opting for bullion-backed ETFs rather than gold miner stocks. [Are Bullion ETFs Responsible for Gold Miners’ Dismal Performance?]
Direxion Daily Gold Miners Bear 3x Shares (NYSEArca: DUST) was among the top-gaining ETFs on Monday morning. It’s a 300% leveraged ETFs that rises when gold miners fall.
GDX is down 18% over the past three months.
Direxion Daily Gold Miners Bear 3x Shares
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