Mining Stocks and Commodity ETFs Shine as Gold Soars

• By the tickerspy.com Staff
• On 10:55 am EDT, Tuesday October 6, 2009

Gold prices broke to a new all-time high on Tuesday, sending investors to mining stocks on an up day for equities.

Often gold prices move conversely to the equity markets, as the commodity is considered a safe-haven for downside risk. Today, however, the precious metal is up by $20 an ounce to new all-time highs while the Dow surges by triple-digits. Gold mining stocks are up by as much as 10% on the metal's less than 2% rally to uncharted territory.

Meanwhile, the Gold and Silver Stocks Index's 7% daily rally pushed it ahead of the S&P by 3% over the last month.

Gammon Gold (NYSE: GRS - News), Hecla Mining (NYSE: HL - News), and Golden Star Resources (AMEX: GSS - News) are all up by double-digit percentages today. Hecla is now ahead by over 40% in the last month. Meanwhile, next-best Coeur d'Alene Mines (NYSE: CDE - News) and Peruvian Compania de Minas Buenaventura (NYSE: BVN - News) are up by less than 30% for the period.

Barrick Gold (NSYE: ABX), Goldcorp (NYSE: GG - News), and Newmont Mining (NYSE: NEM - News), the sector's largest U.S.-listed players, are all up by more than 5% in today's session.

Gold-tied commodity ETFs are also up big today, led by the Market Vectors Gold Miners ETF (NYSE: GDX - News) with a 7% gain. The PowerShares DB Gold Double Long ETN (NYSE: DGP - News) and iShares Silver Trust (NYSE: SLV - News) are also up by over 4%.

At the end of the second quarter 205 Pros counted the SPDR Gold Shares (NYSE: GLD - News) ETF among their top-15 U.S.-listed holdings. If they held their stake, it is earning them over 2% in today's session.

As of this writing, the Gold and Silver Stocks Index is one of the top-3 performing tickerspy Indexes over the last week, up by 7.5%.

Fun and informative, tickerspy.com is a free investing website where you can track multiple stock portfolios and compare against 250 proprietary Indexes tracking themes from nanotech to agriculture to precious metals. Best of all, tickerspy.com lets you spy on the portfolios of nearly 3,000 Wall Street institutions and hedge funds and see graphs of their performance. Try tickerspy.com today and find out how you stack up against investing legends like Warren Buffett!

Buzz up!