Wagner adds that GLDX’s monthly chart “shows the break of downtrend line and the biggest spike in volume over the past few years during last month’s close above the 10-month moving average.” The ETF added 0.8% Thursday on volume that was more than 50% above the daily average. All that from an ETF that was reverse split last year amid the gold miners meltdown.
GLDX’s country weights are favorable with only Canadian, Australian and U.S. firms appearing in the fund, indicating the ETF is not vulnerable to geopolitical volatility as can be the case for some mining ETFs. [Country Risk and Gold Mining ETFs]
Global X Gold Explorers ETF
ETF Trends editorial team contributed to this post.