• Connect with us
    • Information
      • About Us
      • Contact Us
      • Careers
      • Partnerships
      • Advertise With Us
      • Authors
      • Browse Topics
      • Events
      • Disclaimer
      • Privacy Policy
    • Australia
      North America
      World
    Login
    Investing News NetworkYour trusted source for investing success
    • North America
      Australia
      World
    • My INN
    Videos
    Companies
    Press Releases
    Private Placements
    SUBSCRIBE
    • Reports & Guides
      • Market Outlook Reports
      • Investing Guides
    • Button
    Resource
    • Precious Metals
    • Battery Metals
    • Base Metals
    • Energy
    • Critical Metals
    Tech
    Life Science
    Precious Metals Market
    Precious Metals News
    Precious Metals Stocks
    • Precious Metals Market
    • Precious Metals News
    • Precious Metals Stocks
    gold investing

    Junior Gold Miners ETF Hits Highest Volume Ever

    Priscila Barrera
    Mar. 16, 2017 04:25PM PST
    Precious Metals
    Gold Investing

    The record high came after the Fed announced an interest rate hike.

    After the US Federal Reserve raised interest rates by a quarter percentage point on Wednesday (March 15), gold rose above the $1,200-per-ounce mark. 
    Gold stocks and gold-related products were also on the rise, and the VanEck Vectors Junior Gold Miners ETF (ARCA:GDXJ) performed particularly well. It rose 11.5 percent that day, and over 64 million shares traded hands — that’s the highest volume in the ETF’s history.
    The fund, which has a total net asset worth of $5.3 billion, seeks to replicate as closely as possible the performance of the Global Junior Gold Miners Index. As its name suggests, the index is intended to track the overall performance of the gold-mining industry.

    Junior Gold Miners rose 11.5% today on over 64 million shares traded, the highest volume day in its history. $GDXJ pic.twitter.com/jkG7nO3j9o

    — Charlie Bilello (@charliebilello) March 16, 2017


    Wednesday’s gold price rise was surprising for some. In the lead up to the Fed’s announcement, many market watchers were concerned that a rate hike would negatively impact the yellow metal. However, it turned out that the hike had been priced into the market.
    “Gold’s resilience could help strengthen positive yet still fragile gold sentiment,” Joni Teves, a strategist at UBS (NYSE:UBS) in London, told Reuters. By the end of Thursday, April gold had rallied $26.40, or 2.2 percent, to settle at $1,227.10; that’s it’s highest level since March 2.
    “In addition to a general friendliness towards gold for its diversification and hedging properties, lingering uncertainty has likely prevented shorts from becoming aggressive in spite of the challenges that gold has faced in recent weeks,” Teves added.


    Gold is up 7 percent year-to-date, spurred partially by safe-haven demand from investors concerned about Donald Trump’s presidency, elections in Europe and the Brexit process.
    Many believe the yellow metal’s gains will only continue, and it’s likely that the Junior Gold Miners ETF will keep thriving as well. According to MarketWatch, it’s attracted inflows of $1.29 billion so far this year, and $416 million over just the past month. It has also risen over 30 percent in the last year.
    But investors should nevertheless be prepared for some turbulence.
    “Gold-miner stocks, which were among the strongest performers of 2016, have seen a massive shift in sentiment of late. That volatility will persist as the underlying commodity struggles for direction,” Goldman Sachs (NYSE:GS) analysts said on Wednesday.
    Don’t forget to follow us @INN_Resource for real-time news updates.
    Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
    europedonald trumpgold investing
    The Conversation (0)

    Go Deeper

    AI Powered
    Three gold bars on price chart with magnifying glass.

    What Was the Highest Price for Gold?

    Gold bear and bull fighting over bars of gold.

    Gold Price 2024 Year-End Review

    Latest News

    Heritage Mining Provides Exploration and Melba Project Update

    Cartier Launches Ambitious 100,000-m Drill Program on Cadillac

    1911 Gold Commences PEA on True North Project and Provides Update on Underground Progress

    Prismo Metals Discovers Two Separate Mineralized Veins at Silver King

    Compelling IP Gold Target Delineated at White Lion Prospect

    More News

    Outlook Reports

    Resource
    • Precious Metals
      • Gold
      • Silver
    • Battery Metals
      • Lithium
      • Cobalt
      • Graphite
    • Energy
      • Uranium
      • Oil and Gas
    • Base Metals
      • Copper
      • Nickel
      • Zinc
    • Critical Metals
      • Rare Earths
    • Industrial Metals
    • Agriculture
    Tech
      • Artificial Intelligence
      • Cybersecurity
      • Gaming
      • Cleantech
      • Emerging Tech
    Life Science
      • Biotech
      • Cannabis
      • Psychedelics
      • Pharmaceuticals

    Featured Precious Metals Stocks

    Triumph Gold

    TIG:CA

    Horizon Minerals

    HRZ:AU

    Alice Queen

    AQX:AU

    Pinnacle Silver and Gold

    PINN:CC

    1911 Gold

    AUMB:CC

    Kobo Resources

    KRI:CC
    More featured stocks

    Browse Companies

    Resource
    • Precious Metals
    • Battery Metals
    • Energy
    • Base Metals
    • Critical Metals
    Tech
    Life Science
    MARKETS
    COMMODITIES
    CURRENCIES
    ×