The VanEck Vectors Gold Miners ETF (NYSEArca: GDX), VanEck Vectors Junior Gold Miners ETF (NYSEArca: GDXJ) and rival gold miners funds are among the best-performing exchange traded funds. As is the case with GDX and GDXJ, the two largest gold miners ETFs, many gold and silver miners funds have more than doubled year-to-date.

That is not stopping some traders from forecasting more upside for this scorching hot corner of the ETF space. Additionally, there is at least one positive fundamental catalyst that potentially bodes well for gold miners ETFs going forward: Peak production of gold has likely come and gone, perhaps indicating that supply will dwindle, thereby boosting bullion prices.

While gold miner stocks and sector-related exchange traded funds look cheap after underperforming broader equities for years, some caution investors against betting too heavily on this area of the market as the sector rallies on strengthening bullion prices.

SEE MORE: 4 Gold ETFs to Diversify a Multi-Functional Portfolio

According to CNBC: “The gold miners have skyrocketed this year, with the ETF tracking the group (GDX) more than doubling in 2016. And Todd Gordon of TradingAnalysis.com says the gains aren’t over yet.

“The gold market, the underlying gold futures and the gold miners continue to hold a strong bid despite the stock market breaking all-time highs,” Gordon said Tuesday on CNBC’s “Trading Nation.”

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There is at least one positive fundamental catalyst that potentially bodes well for gold miners ETFs going forward: Peak production of gold has likely come and gone, perhaps indicating that supply will dwindle, thereby boosting bullion prices.

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