Some say gold prices, miners can regain their glitter in 2014

|By:, SA News Editor

Gold miners' shares have jumped to the top of performance lists in a dramatic reversal, prompting some strategists to see signs that 2014 may be the year gold regains its shine.

The Market Vectors Gold Miners ETF (GDX) has rebounded 10% YTD following a 54% beating in 2013, the Junior Gold Miners ETF (GDXJ) has surged 16% YTD after last year's 61% plunge, and the SPDR Gold Trust (GLD) has gained 4% YTD after losing 28% in 2013.

Gold miners may have another $113B of reserves to write down, but most of the expected write-downs are already baked into the price, says ETF's Securities' Simona Gambarini, noting that gold miners are trading at a 4% discount to NAV, the lowest level on record.

ETFs: NUGT, IAU, DUST, PHYS, SGOL, UGL, DGP, GLL, GLDX, DZZ, UGLD, DGL, DGZ, JNUG, AGOL, RING, GLDI, DGLD, GGGG, PSAU, JDST, TBAR, UBG.