by Adam Hamilton
The gold miners’ stocks are blasting higher, just achieving major new secular highs! Traders are flocking back to gold stocks as the metal they produce relentlessly advances on strong investment demand. That is atypical during market summers, but the pandemic has made for unprecedented times. This gold-stock upleg is big, but doesn’t look excessive yet. It should keep marching with investment capital flowing into gold.
With these red-hot stock markets fueled by extreme Fed money printing, the small contrarian gold-stock sector has largely remained overlooked. But the gold miners’ gains since March’s stock panic have been awesome. The leading and dominant gold-stock benchmark is the GDX VanEck Vectors Gold Miners ETF. Its impressive $16.9b in net assets this week doubled all the rest of the US gold-stock ETFs combined!