Latest news with #GDX
Yahoo
30-04-2025
- Business
- Yahoo
Should You Buy Gold or Gold Miners Now?
(1:00) - What Is Currently Pushing Gold Prices So High? (6:10) - What Can Investors Expect From Gold Moving Forward? (13:20) - Should You Be Adding Gold Miners To Your Investment Portfolio? (25:00) - What Should Investors Expect From Silver Right Now? (35:30) - Episode Roundup: INIVX, AEM, NEM, AGI, GDX, AUMI, GLD, OUNZ Podcast@ In this episode of ETF Spotlight, I speak with Imaru Casanova, Portfolio Manager for Gold and Precious Metals at VanEck, about gold and gold miners. VanEck has long been a leader in gold investing, having launched the nation's first gold fund—the VanEck International Investors Gold Fund INIVX—in 1968, and the first gold miners ETF GDX in 2006. Gold has outperformed almost all other major asset classes this year. The precious metal is up 26% year-to-date, whereas the S&P 500 ETF SPY is down about 6%. Miners, which are generally high-beta plays on the price of gold, have done even better than the metal itself. Gold has been hitting new records amid market uncertainty driven by trade tensions. However, after reaching an all-time high of over $3,500 per troy ounce last week, gold prices paused on signs of progress in tariff negotiations. Gold purchases by central banks have soared in recent years, particularly following Russia's invasion of Ukraine. According to the World Gold Council, total annual gold demand reached a record high in 2024, driven by strong, sustained central bank buying and growing investment demand. Many central banks are now purchasing gold instead of U.S. Treasuries, due to the rapid rise in U.S. debt and fiscal deterioration. They are also seeking to diversify away from the U.S. dollar. This accelerating de-dollarization trend could help sustain the gold rally. While central banks have been the main driving force behind gold's rally, retail investors largely stayed on the sidelines. Gold ETFs saw net outflows last year despite the metal's impressive performance. However, we've seen stronger inflows into these ETFs in 2025, which could further support gold prices. I believe gold deserves a small allocation in a diversified portfolio, primarily due to its risk-reducing benefits. The SPDR Gold Trust GLD is the largest and most liquid gold ETF, with over $100 billion in assets under management. For long-term investors, the SPDR Gold MiniShares Trust GLDM and the iShares Gold Trust Micro IAUM are more cost-effective options. The VanEck Merk Gold Trust OUNZ also offers the unique option of taking physical delivery of gold. Among miners, Imaru favors Agnico Eagle Mines AEM, Alamos Gold AGI, and Newmont NEM, which are top holdings in the fund she manages. Tune in to the podcast to learn more. Make sure to be on the lookout for the next edition of ETF Spotlight! If you have any comments or questions, please email podcast@ Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Newmont Corporation (NEM) : Free Stock Analysis Report Agnico Eagle Mines Limited (AEM) : Free Stock Analysis Report SPDR Gold Shares (GLD): ETF Research Reports SPDR S&P 500 ETF (SPY): ETF Research Reports Alamos Gold Inc. (AGI) : Free Stock Analysis Report VanEck Gold Miners ETF (GDX): ETF Research Reports SPDR Gold MiniShares Trust (GLDM): ETF Research Reports This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Yahoo
16-04-2025
- Business
- Yahoo
Peter Schiff and senior industry veterans breakdown tariff chaos, market crisis, Bitcoin impact
As President Donald Trump escalates his tariff war with China and other countries, top executives are issuing stark warnings about the broader economic fallout — and the potential for a disastrous holiday season. In a recent Roundtable discussion hosted by CEO James Heckman, several industry leaders expressed frustration over the unpredictable and rapidly shifting tariff environment. From delayed shipments to frozen supply chains, they say the current situation is paralyzing industries that rely heavily on global manufacturing and logistics.W. Graeme Roustan, former Chairman of companies listed on both the Toronto and New York Stock Exchanges and current owner of multiple , described the uncertainty as unprecedented. 'There's a lot of commiserating going on. I get calls from CEOs in the states asking, 'Is the 25% duty going to be added to the shipment?' And I have to say, 'Absolutely — it's a tax.'' Roustan noted the unpredictability of the policy shifts. 'It's on this week, off next week, delayed 30 days, now it's 90 days. It's just very disruptive. People are holding their cards close to their chest... waiting for some stability.' Walton Comer, Co-Founder and CIO of XBTO Global, delivered perhaps the starkest warning of all. 'Retail toys... Christmas is going to be a disaster right now,' Comer said. 'People don't realize how this business cycle works. Orders need to go in now. It takes four months to manufacture and ship toys. If those orders don't happen soon, shelves will be empty.' He explained that the toy industry operates on a fixed calendar. Toy fairs are held early in the year, and retailers must finalize orders shortly afterward to ensure products are available for the holiday season. Tariff uncertainty has frozen decision-making and halted supply chain momentum. 'This has to be reversed immediately,' Comer warned. 'Or there won't be a Christmas.' XBTO Global is a digital asset investment and infrastructure firm specializing in crypto trading, asset management, and liquidity solutions. Founded in 2015, it operates globally with a focus on institutional-grade crypto strategies. The firm also invests in blockchain innovation and supports decentralized finance (DeFi) initiatives. Peter Schiff, Chief Market Strategist at Euro Pacific Asset Management, argued that gold is the most overlooked hedge in today's volatile climate. 'I think this year gold's going to $3,500 to $4,000,' Schiff said in a Roundtable discussion. 'And if I'm wrong, it's because it goes higher.'He criticized Wall Street for missing the opportunity: 'Gold mining stocks are not even priced for $2,000 gold — let alone $3,200. Every day last year, except one, there were net outflows from GDX [the gold miners ETF], even as prices rose.' Schiff blamed the obsession with tech and crypto stocks for distracting investors from what he sees as the real safe haven. 'When the public and Wall Street realize how wrong they got gold, there's going to be a big shift.' Sign in to access your portfolio
Globe and Mail
14-04-2025
- Business
- Globe and Mail
Make Big Bets on Gold With These 3 Leveraged Mining Funds
The world's favorite precious metal reasserted its worth as a safe haven asset as markets tumbled in the first few days of April. As of April 4, 2025, the price of gold is up an impressive 30% in the past year and 14.5% year-to-date (YTD). Meanwhile, as the S&P 500 plunged by 8.2% the week of March 31, 2025—due largely to the announcement of sweeping tariffs on imports from dozens of nations—the spot price of gold dropped by only 2.6% at the same time. Increased day-to-day market turbulence and growing calls for a potential recession may prompt investors to exercise caution, and one way to do this is to rebalance portfolios toward defensive plays like gold. And some investors might see an opportunity to make a bolder bet on the precious metal: a leveraged exchange-traded fund (ETF) or note (ETN). These investments can amplify gains but also have the potential to magnify losses for an overall high-risk, high-reward bet. Three such exchange-traded products may appeal to investors seeking to capitalize on gold's rally indirectly —through the share prices of gold mining stocks, which tend to correlate movement with the price of the metal itself: GDXU, GDXU: Broad, Triple-Leveraged Exposure to Gold Miners [content-module:CompanyOverview|NYSEARCA:GDXU] If you're looking for a single leveraged product that offers exposure to both large and mid-cap gold miners, consider the MicroSectors Gold Miners 3X Leveraged ETN (NYSEARCA: GDXU). GDXU is an ETN —a debt instrument issued by Bank of Montreal. This means it doesn't hold physical assets but instead promises to pay returns based on its index. ETNs carry issuer credit risk, so investors are also exposed to the solvency of the issuing bank. This ETN takes a unique approach to gold mining stocks by tracking the performance of the S-Network MicroSectors Gold Miners Index—which is itself composed of two major gold mining ETFs: VanEck Gold Miners ETF (NYSEARCA: GDX): GDX focuses on large-cap miners and has a concentrated portfolio where top holdings can represent over 10% each. VanEck Junior Gold Miners ETF (NYSEARCA: GDXJ): GDXJ targets smaller-cap mining firms but includes a few larger players and some that focus on metals other than gold. Its asset distribution is more balanced, with top holdings closer to 7%. Between these two funds, GDXU provides investors with broad exposure to gold mining companies at multiple places on the market capitalization spectrum. GDXU tends to be more heavily weighted toward GDX, which is made up of larger firms. GDXU provides 3x leverage, reset daily. This means daily gains in GDX and GDXJ are tripled, although investors must be cautious not to remain exposed to GDXU for a longer period, lest they risk diverging from the fund's intended results. This makes GDXU a great choice for investors keen to amplify short-term spikes in the share price of gold mining firms. Its expense ratio of 0.95% is on the low side for 3x leveraged funds, an added bonus. NUGT: A Concentrated, Double-Leveraged Bet on Top Miners [content-module:CompanyOverview|NYSEARCA:NUGT] The Direxion Daily Gold Miners Index Bull 2X Shares (NYSEARCA: NUGT) ETF tracks the NYSE Arca Gold Miners Index, which is the same index that GDX targets. This index is fairly concentrated in a handful of names, with the largest positions routinely occupying at least 10% of the portfolio. This makes NUGT a targeted leverage play on some of the top names in the gold mining space. NUGT is an ETF, meaning it actually holds the underlying assets—in this case, derivatives tied to gold mining stocks. This reduces credit risk and enhances transparency as ETFs don't rely on the solvency of an issuer the way an ETN does. With an expense ratio of 1.13%, NUGT is not an inexpensive fund. Its 2x leverage also resets daily, making it ideal for short-term plays. Indeed, investors wishing for long-term exposure to the index may be better off trading in GDX shares directly—the expense ratio is significantly lower, and results won't be skewed due to compounding returns. Still, for individual days in which the gold mining industry thrives, NUGT is a great choice to maximize gains. JNUG: Aggressive Exposure to Junior Gold Miners [content-module:CompanyOverview|NYSEARCA:JNUG] For traders seeking high volatility and outsized returns from smaller mining companies, look to the Direxion Daily Junior Gold Miners Index Bull 2X Shares (NYSEARCA: JNUG). JNUG offers 2x daily leveraged exposure to the GDXJ, making it a powerful tool for those looking to capitalize on sharp short-term movements in the junior mining space. But keep in mind the risk level is high with this ETF. When you combine small-cap volatility with leverage, it can lead to large swings. That makes JNUG best suited for active traders who can monitor their positions closely rather than long-term buy-and-hold investors. Because GDXJ includes a wider range of companies—some not exclusively focused on gold—JNUG also gives indirect exposure to the broader mining sector. This can occasionally soften or skew its correlation to the price of gold, especially in the short term. With that in mind, JNUG may appeal most to traders who are not only bullish on gold but who also expect junior miners to outperform their larger peers during surges in the precious metals market. Where Should You Invest $1,000 Right Now? Before you make your next trade, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.
Globe and Mail
02-04-2025
- Business
- Globe and Mail
Gold Investors Take a Pause for Breath on Fears That Liberation Day Could Lead to Price Retreat
Gold investors in ETFs such as the VanEck Gold Miners (GDX) are steeling themselves today to find out whether President Trump's Liberation Day tariffs announcement will take the shine off their precious metal. Don't Miss Our End of Quarter Offers: Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks. Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter. Gold Price Caution Gold prices have rocketed in recent weeks with the spot price hitting a new all-time high of around $3,149.00 per ounce on Tuesday, April 1. It is up 19% in the year to date driven by investors flocking to it as a safe haven in a time of great economic uncertainty – thanks to fears over a global tariffs-led trade war – and geopolitical tension from Ukraine, to the Middle East and Taiwan. It's benefited ETFs such as the GDX which is up 35% so far this year and the SPDR Gold Shares ETF (GLD) which is up nearly 19%. Gold mining stocks like Barrick Gold (GOLD) have also prospered. However, caution is the golden word today as President Trump gets set to make his big Liberation Day announcement on tariffs. The spot gold price in early trading was largely unmoved at $3,124 with both the GDX and GLD flat. Is the Rally Over? Kathleen Brooks, research director at XLB, said the peak may have been reached. 'Gold is the ultimate tariff trade but the gold price faces a big test ahead,' she said. 'If U.S. stock markets start to rally after the tariff announcement is out of the way, can the gold price continue to rally?' She believes that the rally in the gold price is linked to U.S. economic policy uncertainty and once this starts to recede 'the gold price could follow.' But, arguably, tariffs aren't the sole driver. The expectations of interest rate cuts, return of higher inflation, central banks bulking up on the metal and the strong demand for ETFs like GDX and GLD could help keep the gold price prospering. Also, is it really likely that given Trump's character and previous behavior that a 'line in the sand' will be drawn today? The President is a well-known 'flip-flopper' with announcements – even perhaps to his own surprise – emerging when least expected. A prolonged trade war is also likely to ease any uncertainty in investors' minds. It's why analysts such as those at Bank of America have raised their gold price average forecasts for both this year and next. It expects gold to soar to a record $3,350 in 2026. The President will make his announcement on tariffs at 4pm EST today. Is the GDX ETF a Buy? Most Wall Street analysts don't offer ratings or price targets on the GDX, so we will look at its three month performance instead. As one can see in the chart below it has risen 29.60% over the last 12 weeks.
Forbes
31-03-2025
- Business
- Forbes
Gold Miners Stage A Comeback, But Will The Rally Hold?
Open Cut Gold mine, with Haul truck driving up road, located in Cobar NSW AustraliaOpen Cut Gold ... More mine, located in Cobar NSW Australia Mining stocks are stepping out of gold's shadow. After years of lagging the metal they mine, gold miners are starting to outperform. The GDX Index — a benchmark index for the sector — is up roughly 28% this year, compared to a 19% gain for gold itself. The shift comes as gold spot prices hit a record $3,142 per ounce, setting the stage for earnings upgrades and a shift in sentiment. 'Gold miners offer operational leverage to gold price upside, potential growth and dividend yields,' wrote UBS analyst Daniel Major in a recent note to clients. Still, miners' leverage hasn't kept them from consistently underperforming gold over the past decade — a period in which gold nearly tripled. In fact, over the past five years, the GDX has trailed gold by roughly 40%, dragged down by poor execution, rising costs, and disappointing returns on mergers and acquisitions. Even so, Major believes the setup is starting to shift in favor of the miners. 'We continue to see attractive risk vs reward in the gold miners.' Despite the recent rally, gold stocks remain deeply discounted. UBS estimates the sector is still trading around 30% below pre-Covid averages on a price-to-earnings basis. That disconnect, Major argues, is more about sentiment than fundamentals due to years of missed guidance. 'It is difficult to have conviction that the gold sector will hit its targets and restore investor confidence,' he said. With gold holding above $3,140 and full-year results in, expectations for upward earnings revisions are rising. 'This should provide positive consensus earnings momentum vs consensus multiples that are already materially below historical levels,' Major noted. He adds, however, that investor expectations may be more grounded this time. Forecasts for 2025 no longer assume broad unit cost declines, and guidance from big miners, including Newmont and Barrick, has become more conservative. Seasonality may also work in miners' favor. Historically, the period between full-year results and Q3 earnings coincides with positive revisions. According to Major, this window 'has typically been a better time to own gold stocks,' before the usual round of guidance resets kicks in later in the year.
