Gold prices surpassed $4,400 an ounce, pushing the VanEck Gold Miners ETF (GDX) to levels not seen in over ten years, rising nearly 18% in the past month. This surge is driven by strong free cash flows from major producers like Newmont and Agnico Eagle Mines, whose costs remain well below gold prices, ensuring robust margins. The key factor influencing GDX's future is the real yield environment, with gold's strength despite high Treasury yields suggesting central bank buying and dollar weakness are dominant. Investors should watch real yields, gold price movements, and sustaining costs closely, as any rise in costs or gold price drop could impact margins. For higher risk and reward, the VanEck Junior Gold Miners ETF (GDXJ) offers more leverage to gold price changes but with greater volatility.
Gold ETFs GLD, GDX, and GDXJ have experienced sharply different returns during a recent gold price pullback. GLD, which holds physical gold, fell 7.12%, while GDX and GDXJ, which hold shares in gold mining companies, dropped 13.18% and 14.52% respect...
Gold prices fell to their lowest in two months after the Federal Reserve indicated another interest rate hike may occur by year-end, pushing rates to 3.75%-4.00%. Rising Treasury yields and a stronger US dollar have made bonds more attractive than go...
Gold mining stocks improved in the third quarter of 2026 after significant losses in the second quarter, following record highs in the first quarter. This sector's performance has been volatile due to changing energy market conditions and their perce...
