Oil prices slid after Trump delayed a planned Iran strike, boosting prospects for retail, airline, India and gold mining ETFs.
Investors looking for monthly income from precious metals exposure face a familiar dilemma: gold miners pay almost nothing, and physical gold pays nothing at all.
Gold's strategic push and strong prices are boosting mining ETFs like GDX, RING and SGDJ, offering investors a compelling entry point amid recent dips.
A U.S. naval blockade of the Strait of Hormuz, active airstrikes alongside Israel since late February, and a fragile ceasefire that looks increasingly unstable: the 2026 Iran conflict has created exactly the kind of geopolitical environment that has historically sent gold mining equities surging.
Gold has risen 50% over the past year, and the macroeconomic conditions driving that move have not gone away.
VanEck's Ed Lopez used the Exchange 2026 conference in Las Vegas to highlight how AI infrastructure is reshaping investment opportunities across metals, energy, and emerging markets. Key Takeaways: VanEck's REMX was named Thematic ETF of the Year for AI infrastructure and defense exposure.
VanEck Gold Miners ETF is rated Buy after a healthy 20% correction, presenting a compelling entry point amid record gold miner profitability. GDX constituents now generate ~$3,000/oz in profit, benefiting from structural tailwinds like central bank gold demand, de-dollarization, and a global rate-cutting cycle. Options flow and institutional positioning data indicate bullish sentiment, with the $100 call wall acting as a near-term target and limited downside protection sought.
For VanEck Gold Miners ETF, weak technical trading may be warning of another round of selling soon, with record low Ease-of-Movement readings a worry for bulls. I anticipate a further -20% to -30% correction in gold/silver miners, driven by credit contraction conditions in the economy and a possible bear market in equities generally. My fair value estimates for gold ($3600) and silver ($50–$55) suggest current prices are vulnerable to a significant pullback into early summer.
VanEck Gold Miners ETF (GDX) earns a reiterated buy rating, supported by a compelling 11.2x P/E and robust EPS growth expectations. GDX has outperformed both gold and the S&P 500 YoY, despite recent volatility and a 20% pullback from February highs. Portfolio concentration is high, with 61% in the top 10 holdings and over three-quarters in non-US stocks, offering global diversification.
Gold's run over the past year has been one of those market moments that stops people in their tracks.
Gold prices enjoyed a steady upward march last year to notch a gain of 70% — the highest annual return in 45 years. After setting 53 straight all-time highs, advisors are rightly asking if the “easy money” has already been made.
Gold reached an all-time high near $5,400 following reports of joint U.S.-Israeli strikes on Iranian nuclear and missile sites, threatening oil flows through the Strait of Hormuz.