Market Vectors Gold Miners ETF (NYSEARCA:GDX) reports losses, despite short gold gain


Dallas, Texas 08/27/2013 (Financialstrend) – It could be observed from the price charts of Market Vectors Gold Miners ETF (NYSEARCA:GDX) that the ETF had been presenting heavy decline in prices for the past one year of trading to report losses by 36.03% in line with the declining prices of gold. The decline in prices of the precious metals recently observed in the international markets had put the ETFs based on such commodities to decline heavily in the markets. Despite the recent gain in prices of gold and silver reported in the international markets since July 2013, it had been observed that the prices are still lower compared to the average level of prices for the full year.

The exchange traded fund of Market Vectors Gold Miners ETF (NYSEARCA:GDX) had been designed to track the performance and yield of NYSE Arca Gold Miners Index and thereby provides effective exposure to the publicly traded companies in the worldwide markets which are all involved in mining and exploration of the precious metal. The ETF thus proves to be a valuable overall representative of the performance of gold mining companies located across the world. It would prove valuable to invest in such ETF so as to track and include the diversified performance yield of the precious metal.

Market Vectors Gold Miners ETF (NYSEARCA:GDX) had proved to present increase in share prices by 0.90% on Monday and had thereby closed the trading session at $30.41 per share. The stock was observed fluctuate during the day to present intraday prices moving in the range of $30.03 to $30.88 per share on Monday, while the stock had recorded 52 week low at $22.21 per share and 52 week high at $55.25 per share. Further, the stock’s trading volume on Monday was reported to be at 8.62 million shares for the day.