GDX now resides at five-year lows while SIL hovers near its lowest prices since its April 2010 debut. Conversely, the Direxion Daily Gold Miners Bear 3X Shares (NYSEArca: DUST) is this year’s best leveraged ETF although investors have pulled capital from that fund. [Top-10 Leveraged ETFs of 2013]
Investors with fortitude and patience to wade into the mining sector should do so with large producers that have ample resources and are increasing production, Gissen told MarketWatch. Those names include Goldcorp (NYSE: GG) and Yamana (NYSE: AUY). Goldcorp is GDX’s largest holding with a weight of 11.7%. Yamana accounts for almost 5% of the ETF. At just under $856 an ounce, Yamana has one of the lowest all-in cash costs among GDX holdings.
Market Vectors Gold Miners ETF
ETF Trends editorial team contributed to this post.
