Exchange traded funds that bet against gold miner shares rallied Monday on weakness in the downtrodden sector.
Market Vectors Gold Miners (GDX - News) was down 1.4% in recent trading after posting big gains last week. The sector has been a lackluster performer in 2012 with many investors opting for bullion-backed ETFs rather than gold miner stocks. [Are Bullion ETFs Responsible for Gold Miners’ Dismal Performance?]
GDX is down 18% over the past three months.
Direxion Daily Gold Miners Bear 3x Shares