Short ETFs Rise on Gold Miner Weakness

tlydon@globaltrend.com (Tom Lydon)

Mon, Apr 30, 2012, 10:29 AM

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?]

Direxion Daily Gold Miners Bear 3x Shares (DUST - News) was among the top-gaining ETFs on Monday morning. It’s a 300% leveraged ETFs that rises when gold miners fall.

GDX is down 18% over the past three months.

Direxion Daily Gold Miners Bear 3x Shares

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Short ETFs Rise on Gold Miner Weakness

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