Gold Just Hit $4,400 and the Miners Are Finally Catching Up

Gold pushed above $4,400 an ounce on August 11, and the VanEck Gold Miners ETF (NYSEARCA:GDX) has finally caught up. Over the last month GDX is up nearly 18%, and about 53% over the past year, though it remains roughly 3% lower year to date. Trading at around $88, the fund is at levels not seen in more than a decade. GDX tracks the NYSE Arca Gold Miners Index and is heavily concentrated in names including Newmont and Agnico Eagle, with Wheaton Precious Metals also prominent. The article points to real Treasury yields, AISC costs, and oil prices as key drivers for miners’ next moves.