Gold miners are printing money right now. Gold has ripped to record highs while costs have barely budged, leaving margins at the fattest levels we’ve seen in over a decade. Miners are making more per ounce today than at any other point in recent history.
The VanEck Gold Miners ETF ($VanEck Gold Miners ETF(GDX.US)) is up about 94% year-to-date as of September, and it’s no mystery why. The setup is perfect, more rate cuts on the horizon, central banks hoarding gold, geopolitical risks stacking up, and inflation refusing to cool. With gold up almost 40% this year, miners are the clear beneficiaries.This kind of earnings power hasn’t shown up since the 1970s gold boom. Investors know it, and that’s why they’re piling into the trade. If the backdrop holds, this sector’s momentum has more room to run.Source: StockMarket.News
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