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Gold mining ETFs: Contrarian buys?

Posted on 23 July 2013

One of this year’s most embattled sector plays, gold miners and the ETFs those stocks call home, have been showing signs of life in recent weeks. Wary investors are no doubt wondering recent price action in ETFs such as the Market Vectors Gold Miners ETF is nothing more than a dead-cat bounce before the continuation of the recent bearish trend or a harbinger of more bullish things to come.
GDX, the largest gold miners ETF by assets, has gained almost 4% since the start of July and since July 8, the ETF has surged 13%. Showing that leveraged ETFs can work well when properly used as short-term traders, the Direxion Daily Gold Miners Bull 3X Shares has soared 38% since July 8………………………………………..Full Article: Source


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VRS - who has written 39433 posts on Opalesque Commodities Briefing.


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