Gold stocks, silver stocks, precious metals
Perhaps sensing a return of inflation – or fearing, as something further clarified – buyers are returning to gold and silver stocks. It’s not exactly a favorite sector among crazy Nasdaq 100 investment managers, so it’s worth noting how strong these precious metals exchange-traded funds have become of late.
While Wall Street is fascinated by the endless hype given to artificial intelligence and related stocks – NVIDIA
NVDA
DIA
Apple
AAPL
MSFT
Precious metals ETF price charts.
The VanEck Vectors Gold Miners ETF consists of 57 of the industry’s largest cap names such as Newmont Mining
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VanEck Vectors Gold Miners ETF Daily Price Chart, 11 29 23.
You can see that price broke above the 200-day moving average during heavy volume on Monday and stayed up there today. The gain from the October low to today is 18%, which hasn’t been bad for about 8 weeks. Note that the 50-day moving average may be about to rise.
The VanEck Vectors Junior Gold Miners ETF has total net assets of $4.34 billion and owns 99 stocks, almost entirely among small-cap mining companies (producers and exploration companies), the most notable of which are Kinross Gold and Alamos Gold.
VanEck Vectors Junior Gold Miners ETF Daily Price Chart, 11 29 23.
The October low was $30.50 and today’s closing price was $38.25, a gain of over 20% in 2 months. You can see 3 closes above the 200-day moving average, which looks like a breakout of sorts, despite the volatility sometimes seen in this sector. The 50-day moving average is now trending upward.
The Global X Silver Miners ETF consists of 32 publicly traded silver mining companies. Its main holdings on the NYSE are Wheaton Precious Metals, Pan American Silver and Hecla Mining.
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Global X Silver Miners ETF Daily Price Chart, 11 29 23.
Since mid-November, the price has rebounded and is now trading above the 200-day moving average again. The 50-day moving average appears to be trending upward. The Relative Strength Index signals “overbought,” a sign that the buying level might need a rest.
The Prime Junior Silver Miners and Explorers ETF is designed, according to the company’s website, “to replicate as closely as possible, before fees and expenses, the price and yield performance of the Prime Junior Silver Miners & Explorers Index.” The index provides a benchmark for investors interested in tracking small-cap public companies active in the silver mining exploration and production sector.
PureFunds ISE Junior Silver ETF Daily Price Chart, 11 29 23.
While the action isn’t as striking as the examples shown above, this ETF has surpassed its 200-day moving average for the first time since May. Price movement in November is almost entirely upward, with the 50-day moving average about to start moving in that direction.