The SPDR Gold Shares (NYSEArca: GLD) is up nearly 3% over the past week and bullion’s recent rally is bring gold miners exchange traded funds along for the ride.

Though Thursday’s gains are somewhat modest, the Market Vectors Gold Miners ETF (NYSEArca: GDX), the largest and most heavily traded gold miners ETF, is higher by 5.4% over the past week. GDX’s small-cap counterpart, the Market Vectors Junior Gold Miners ETF (NYSEArca: GDXJ), is higher by 6.5% over the same period.

GDX can be found flirting with its 200-day moving average, a level it has not closed above since January. Though GDXJ needs to gain 8.2% to get back to its 200-day line, there are encouraging technical signs for that ETF as well. GDXJ’s recent bullishness has the ETF breaking out of downtrend that dates back to 2014, according to Chris Kimble of Kimble Charting Solutions.

Other gold miners ETFs are getting in on the act as well. For example, the Sprott Gold Miners ETF (NYSEArca: SGDM), the first factor-based gold miners ETF, is higher by 5% over the past week. SGDM’s newly minted small-cap equivalent, the Sprott Junior Gold Miners ETF (NYSEArca: SGDJ), has surged 7.5% over that period.

SGDM, which is just 10 months, already has nearly $189 million in assets under management. The ETF tracks the Sprott Zacks Gold Miners Index, which seeks to emphasize gold stocks with the highest quarterly revenue growth measured on a year-over-year basis and stronger relative balance sheets as measured by long-term debt to equity,” according to Sprott. [New Miners ETF Debuts]

SGDJ, which employs a similar smart beta methodology, debuted at the end of March and now has over $17 million in assets. Still, there is evidence to suggest investors need some convincing before returning to gold miners ETFs.

Since the start of this month, GDX and GDXJ have lost $88 million in assets combined, suggesting investors have been caught off guard by gold’s rally just as they were unprepared for the recent surge by silver ETFs. [Silver Surge Surprises Investors]

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