Nevertheless, volatile global equity markets this year have prompted investors to reevaluate safe-have investments, bolstering gold in the process.
Meanwhile, the Market Vectors Gold Miners ETF (NYSEArca: GDX), the largest and most heavily traded gold miners ETF, rose 11.9% year-to-date and broke back above its long-term trend line on Thursday.
Metals and mining stocks have been rallying on the strengthening gold prices, depreciating U.S. dollar and speculation that the Federal Reserve would not be able to further tighten rates on a weakening economy. [Precious Metals, Miner ETFs Shine]
SPDR Gold Shares
Click on the video below to see the full interview on CNBC.