For much of gold's gains earlier this year, miners have lagged. But that scenario has changed in earnest.
The VanEck Gold Miners ETF has outperformed the S&P 500, but performance relative to the price of gold is not up to par. After years of increasing costs, it appears that in 2024 we could finally see certain cost items coming under control. Although the overall risk for equities is now quite high, the GDX ETF is in a good position to outperform both the S&P 500 and the GLD.
Central Banks have stepped up buying gold ever since the invasion of Ukraine. Central Banks move slowly, but are unlikely to revert course once they're going. China could be in the early stages of recovery from an economic downturn.
GDX: Gold Miners Shine In 2024, Shares Pause Ahead Of A Weak Seasonal Period
Gold prices have moved steadily higher and this has provided a strong tailwind to gold mining stocks. Today, we'll highlight a very bullish setup in this sector by looking at the Gold Miners ETF (GDX).
On Tuesday, YieldMax debuted the YieldMax Gold Miners Option Income Strategy ETF (GDXY). GDXY is actively managed and has a net expense ratio of 0.99%.