Market Vectors Gold Miners (NYSEArca: GDX) and Market Vectors Junior Gold Miners (NYSEArca: GDXJ) have been decimated by the two-day sell-off in gold.
GDX was down 8% in morning trade Monday to its lowest level since January 2009.
Its small-cap sibling, GDXJ, dropped 10% to a fresh all-time low.
Gold futures were down sharply after Friday’s plunge, losing $100 an ounce to drop under $1,400 for the first time since March 2011.
However, miner ETFs continue to fall harder than bullion prices. GDX is down 42% for the trailing six months, compared with a loss of 20% for SPDR Gold Shares (NYSEArca: GLD). [Gold Sell-Off Hammers Miner ETFs]