Loading ...Larry, You will learn more by listening, rather than talking.
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“You also have to account for a tremendous slump in gold prices over the past several years and whenever an asset class is hated that much, the comeback is usually epic.”
All of the 10 best-performing unlevered ETFs in the quarter that ended Thursday were exchange-traded products backed by gold and silver miners, according to XTF.com.
Investors piled into gold and silver so resolutely that ETFs tracking miners and materials companies rallied between 40% and 70% in the first three months of 2016.
“The gains in Market Vector Gold Miners ETF GDX GDX, +0.36% worked almost like a leveraged bet on gold, because those companies had been beaten up so badly, that a rise from a lower base meant much greater returns,” said Eric Balchunas, an ETF analyst at Bloomberg.
GDX has risen nearly 46% since the start of the year, while gold futures US:GCM6 gained 16.5% in the quarter.