Gold Mining ETF (GDX) Hits a New 52-Week High

Group 1 - The VanEck Gold Miners ETF (GDX) has reached a 52-week high and has increased by 64.7% from its 52-week low of $33.42 per share [1] - The underlying NYSE Arca Gold Miners Index tracks the performance of companies in the gold mining industry, with GDX charging 51 basis points in annual fees [1] - Recent demand for gold has surged due to central bank purchases, particularly from BRICS nations and emerging economies, as they seek to diversify away from the U.S. dollar [2] Group 2 - The trend of global de-dollarization has led to record levels of sovereign gold purchases, further driving demand for gold and related mining stocks and ETFs [2] - GDX has a positive weighted alpha of 56.91, indicating strong momentum and potential for continued outperformance in the coming months [3]