Betting on bullion’s bounce
Analysts back gold miners for short-term gains as price surge narrows margin gap
17 April 2025 - 05:00
Gold shares have lagged the metal’s price for the past decade, especially since Covid. The $1.6bn VanEck Gold Miners ETF (GDX), a bellwether of gold equity performance globally, has lagged the gold price by 40% over the past four to five years. This is largely due to a poor operational track record, with gold miners often missing production guidance — sometimes due to disappointing projects resulting in above-average cost inflation.
At current gold prices, however, that might be changing, according to two analysts...
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