Market Vectors Gold Miners ETF (NYSEArca: GDX) rallied more than 5% on Monday to climb above its 50-day simple moving average for the first time in nearly nine months.
Gold miner ETFs were strong as bullion prices rose back over $1,300 an ounce. [Silver ETFs Lead Metals Rally]
One of this year’s most embattled sector plays, gold miners and the ETFs those stocks call home, have been showing signs of life in recent weeks. [Gold Mining ETFs: Contrarian Buys?]
GDX is up more than 10% the past month although the ETF is still sitting on a loss of about 40% for the trailing six months.