Boom! Goes the GDX Gold Miner ETF
Tweet
Share
E-mail
Market Vectors Gold Miners ETF (NYSE: GDX) is seeing an explosive move today, and is up nearly 5 percent.
The move is being spurred by a jump in the price of spot gold, which climbed 2.5 percent following a weaker than expected 'Philly Fed' report. The weak data is stoking speculation that the Fed will be forced to continue quantitative easing efforts later this year, which is generally believed to be supportive for gold and gold miners.
Junior miners, represented by Market Vectors Junior Gold Miners ETF (NYSE: GDXJ) is up over 5 percent.
The move is being spurred by a jump in the price of spot gold, which climbed 2.5 percent following a weaker than expected 'Philly Fed' report. The weak data is stoking speculation that the Fed will be forced to continue quantitative easing efforts later this year, which is generally believed to be supportive for gold and gold miners.
Junior miners, represented by Market Vectors Junior Gold Miners ETF (NYSE: GDXJ) is up over 5 percent.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Natural Gas Inventory 15 bcf vs 16 bcf Expected
- Market Vectors Gold Miners ETF (GDX) call put ratio 1.4 calls to 1 put on as gold near 3 month high
- Crude Inventory Rose 0.1 Million Barrels Last Week - EIA
Create E-mail Alert Related Categories
ETFsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
