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Market Vectors Gold Miners ETF (GDX)

  • Jun. 7, 2013, 7:15 PM
    Many gold miners still offer attractive dividends, but Newcrest Mining's (NCMGF.PK) likely dividend cut and Newmont Mining's (NEM) earlier dividend reduction have sector investors wondering if their stock is next. Miners are widely cutting exploration and capex to boost cash flow and try to return cash to shareholders, but dividend levels often are linked to gold prices. If prices keep falling, it seems sure that dividends would follow.
  • Jun. 7, 2013, 2:09 PM
    Gold miners large (GDX -4.1%) and small (GDXJ -5.3%) alike are suffering a beat-down after jobs data from both the U.S. and Canada beat estimates; gold's gains for the week are entirely erased, and the metal "could melt even faster" if the global recovery continues. ABX -4.2%, AEM -6.7%, NEM -2.8%, GG -4.5%, AU -5.5%, EGO -5%, KGC -5.3%. SLW -2.8%, SSRI -7.3%, EXK -5.9%. GLD -2%, SLV -4.1%.
  • Jun. 6, 2013, 9:35 AM
    An interesting note on gold (GLD) from JPMorgan notes the curious disconnect between the futures and physical markets - where the price is at a record premia to spot in China and India, and the U.S. mint can't keep up with demand. In good news for miners (GDX) trying to control costs, reports from Australia speak of mining equipment makers offering discounts and lead times for trucks falling from 2 years to 2 weeks.
  • Jun. 4, 2013, 3:18 PM
    A blip during a turnaround, or a new leg downward for gold miners (GDX -2.4%)? After stringing together several strong days, South African gold miners take a beating today as gold prices slide after a two-week rally: HMY -6.2%, SBGL -4.2%, AU -3.3%, GFI -2.2%. News that Barrick Gold (ABX -3.2%) will delay production at its Pascua-Lama mine may be adding to jitters over government risk.
  • Jun. 3, 2013, 3:28 PM
    Gold mining stocks (GDX) could be reaching an inflection point, Barclays believes, pointing to early signs of performance improvement through the many cost reduction programs begun this year, plus compelling valuations. Goldcorp (GG +2.1%) is the firm's top pick among North American miners because it has the best growth profile and expected operating and capital cost declines in 2014.
  • May. 31, 2013, 5:02 PM
    The week's ETF movers - Gainers: GDXJ +7.5%. GDX +7.3%. URA +2.4%. VXX +2.4%. VNM +1.7%.
    ETF Losers: GAZ -8.9%. BRF -8.5%. EWZ -6.8%. UNG -6.7%. VNQ -5.2%.
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  • May. 30, 2013, 11:59 AM
    South African gold miners enjoy another strong performance, aided by rising gold prices and fresh lows in the rand; the rand-price of gold is up almost 10% in the last two weeks. Harmony Gold (HMY +9.9%) and Sibanye Gold (SBGL +5.9%), which own primarily South African assets, are surging; shares with more international exposure also post healthy gains: GFI +4.5%, AU +6.6%.
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  • May. 24, 2013, 4:42 PM
    The week's ETF movers - Gainers: GDXJ +6.5%. GAZ +6.3%. TAN +5.2%. UNG +4.4%. GDX +4.3%.
    ETF Losers: WPS -6.1%. EWJ -5.7%. EWA -5.6%. EPI -5.6%. IYR -3.4%.
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  • May. 24, 2013, 9:06 AM
    After spending years and billions eliminating their hedge books, gold producers (GDX) may need to return to their old habit - selling production forward - thanks to the metal's (GLD) sharp decline. "We think producers are under pressure to put on hedging," says SocGen's Robin Bhar. "The problem is it needs a cultural change ... Guys who used to hedge have lost their jobs." Renewed producer selling could put even more pressure on prices.
  • May. 23, 2013, 2:46 PM
    Gold's sharp rise today can be attributed to the dollar's drop vs. the yen; when the dollar drops, gold should rise, as their correlation during the past 24 days has hit -86%. A stock sector that's standing out is emerging market gold miners: South Africa’s Sibanye (SBGL), Harmony (HMY) and AngloGold (AU), plus Peru's Buenaventura (BVN) are stronger, even as their corresponding country ETFs (EZA; EPU) are in the red.
  • May. 22, 2013, 3:59 PM
    Prospects for gold mining stocks (GDX +1.2%) could be turning around at least in the short term, MKM Partners' Katie Stockton says. She would consider adding some exposure to take advantage of a short-term relief rally within the downtrend, adding "the trade is likely to play out in the near term or not at all, so we expect to know if it is working in the next week or two."
  • May. 21, 2013, 9:41 AM
    IAMGOLD (IAG -4.9%) reports encouraging drill results from its Boto Gold project in West Africa, saying drilling continues to return wide intervals with good grades, confirming previous results and further extending the zones drilled. But gold miners (GDX -2.5%) are broadly lower as futures resume their descent after yesterday's wild ride: KGC -4.7%, EGO -4.6%, GFI -3.6%, ABX -2.8%, GG -2.2%, NEM -1.8%.
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  • May. 20, 2013, 12:57 PM
    As precious metals prices turn around, share prices of gold (GDX +4.7%) and silver miners (SIL +3.1%) surge: ABX +5.9%, GG +4.5%, KGC +6.4%, NEM +4.7%, SLW +4%. Even South African producers turn mixed, despite the call from the country's mine workers union for big pay increases: AU -0.8%, GFI +1.5%, HMY -0.5%.
  • May. 17, 2013, 4:49 PM
    The week's ETF movers - Gainers: TAN +9.6%. XLF +3.7%. UNG +3.4%. GAZ +3.2%. EWJ +3.0%.
    ETF Losers: GDXJ -14.2%. GDX -11.5%. PSLV -7.3%. SLV -6.9%. SIVR -6.7%.
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  • May. 17, 2013, 3:22 PM
    Gold miners (GDX -3.2%) take another beating as gold continues to lose its allure amid disclosures of reduced bets by hedge funds, a World Gold Council report showing gold demand at a three-year low, and a surging dollar. For the miners, it's an ugly world of lower production, higher costs and falling prices. At least nine miners hit 52-week lows: NEM -3%, GG -2.7%, AUY -4.8%, HMY -6.3%, AU -2.5%, BVN -1.1%, ANV -7.4%, NG -2.7%, GSS -5.8%.
  • May. 10, 2013, 12:23 PM
    The mini-recovery in gold and metals mining stocks is stopped as gold prices sink 3% today to ~$1,425/oz. after closing higher in each of the past two weeks. A breach of key chart levels is prompting heavy selling of gold futures, already under pressure from a stronger dollar and rising stock markets. Among big miners: ABX -3%, NEM -2.1%, GG -1.6%, KGC -3.8%, SLW -2.7%, FCX -1.8%.
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GDX Description
The Gold Miners ETF seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the NYSE Arca Gold Miners Index. The Index provides exposure to publicly traded companies worldwide involved primarily in the mining for gold, representing a diversified blend of small-, mid- and large- capitalization stocks. As such, the Fund is subject to the risks of investing in this sector.
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