Related: Gold Miners ETF Rally Has Room to Run

Since the start of the third quarter, investors have pulled $896.1 million from GDX while allocating nearly $92 million to GDXJ. Year-to-date, GDX has bled $2.9 billion while the small-cap fund has seen inflows of almost $633 million.

“The precious metals complex did not surpass its 2016 highs even though the US Dollar index made a new low. That is a negative divergence. Secondly, both miners and metals have formed a bearish reversal on the monthly charts. That is more significant than a daily or weekly reversal,” notes ETF Daily News.

Popular leveraged gold miners ETFs include the Direxion Daily Junior Gold Miners Index Bull 3x Shares (NYSEArca: JNUG), the triple-leveraged answer to the popular GDXJ. The Direxion Daily Gold Miners Bull 3X Shares (NYSEArca: NUGT) is JNUG’s large-cap counterpart.

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