VanEck Gold Miners ETF (GDX) Buy, Sell or Hold

VanEck Gold Miners ETF (GDX)

73.81

-3.78 (4.87%)

as of Jun 10, 2026, 8:00:00 pm Market Open.

72 watching

WATCH

There has been a lot of liquidation in risk parity funds that use gold as an asset class. We are moving into a world where governments are just going to print money. At some point it will cause some inflation and cause gold to skyrocket. He sees $1900 in gold at some point. Gold equities are one of the cheapest asset classes on the planet for the next couple of years. Gold won't be the first to recover, though.

PAST TOP PICK

(A Top Pick Jul 15/19, Up 15%) He's bullish gold. There's a global debt crisis, so to get repaid these debts you have to devalue paper currencies, starting with the USD--and gold (the anti-currency) has to rise by default.

DON'T BUY

He's not a gold bull, because gold represents a decline in the value of the US dollar. This one is fine, it's just not something he's bullish on. Gold is dead money.

WEAK BUY

He's had a love/hate feeling towards gold. He's held this only for a short time, because the tailwinds for gold are turning into headwinds. Fears of a collapse in the market and US dollar have not happened, so gold has suffered. The story of the US as the best house on the block is now fraying. He is not bullish gold long-term. He just bought GDX for tactical balance, expecting weakness in the US dollar, but long-term, like 3-5 years, he isn't excited about gold. If global growth stabilizes and the US dollar weakens, gold ETFs should soar.

BUY

Gold - Holding https://www.mint.ca/store/mint/about-the-mint/exchange-traded-receipts-etr-6600002 Holding bullion is fine, but if you're really bullish gold, then hold the stocks. You'll get 2:1 upside vs. the bullion. He's market neutral, but very bullish gold long-term using call spreads using GDX. But gold could pullback to the $1,400 break-out; that's the downside risk.

COMMENT

Look at the GDX chart to read gold--the GDX is in an uptrend since mid-2018, but has been recently pulling back. The smart money is very short, but Nov-Feb is strong seasonality for gold--so, gold can go one of those two ways. He sees a gold rally that will coincide with a market pullback coming soon.

TOP PICK

You get more torque than out of the commodity itself. Gold will have good support now.

TOP PICK

If the world can figure out how to deal with $50 TRILLION of negative yielding debt, or if the global trade tensions are dealt with and the economic growth continues this may not be a great holding, so he is nervous to recommend it. This is a real store of value in a low interest rate environment. He continues to think yields will drop and economic growth will not accelerate. Yield 0.38%

WATCH

He uses GDX to play the mid to large gold sector. You want to buy dips. It will be volatile in the next few months.

TOP PICK

Rather than playing bullion directly, this ETF has a lot of the big cap stocks like Barrick, Agnico, and Franco-Nevada. Diversify the risk, and a more direct play on the commodity. He's more confident in gold going higher than any specific country or mine. Yield is 0.38%.

N/A

Educational Segment. Gold with negative interest rates. Gold with negative interest rates. Gold is an attractive asset class. GDX-N is an example. Gold peaked out at US$1900 in 2011 and there will be a lot of resistance at $1525. He thinks we have a date with gold at $1900 again. It's at a 35 year low and is a no-brainer. He thinks this ETF could double.

TOP PICK

The fundamental back drop and good technicals support this. A macro call on real interest rates as the yield curve goes negative. He would trade this with a stop, which could get triggered if the trade war saber rattling ends. Yield 0.36%

TOP PICK

Low interest rates and weaker non-US currencies will continue to drive gold. This holds the big Canadian gold stocks. It's time for gold to shine.

COMMENT

He does not generally buy ETFs. Gold producers have a long history of messing up their own good fortune. There are often operational disconnects between the share price and bullion prices. He would prefer to play gold with GLD-N. He feels doing so creates a good hedge against other asset classes. If we head into recessionary pressures, holding GLD-N could play well. Don't hold more than 5-6% of your portfolio in gold.

BUY

Gold responds well during inflationary periods, with or without growth. You can play the gold miners or this ETF, which is market-cap weighted. It's a good ETF especially for growth.

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VanEck Gold Miners ETF (GDX)