Boom! Goes the GDX Gold Miner ETF
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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.
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