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.
For more information on the gold market, visit our gold category.