Unlike other indexes such as the NYSE Arca Gold Mining Index, which actually includes several silver miners, over 95% of the revenues from the companies in the Solactive Index are derived from gold mining.
The Metals Channel Global Mining Titans Index is comprised of the top fifty global leaders from the metals and mining sector.
FORBES: Analyst Favorites of the Metals Titans: Coeur d'Alene Mines Ranks As a Top Pick
Mining stocks are especially hot right now with the Metals and Mining sub-index ahead almost 18% for October.
Last week the index of gold mining shares were up 6.5% or almost double the price of gold.
Manufacturing, which is one of the components of the index of production along with mining and quarrying, gas and electricity, and water and sewerage, fell 0.3% compared with the previous month.
Unlike their rivals to the south, metals and mining shares were the weakest performers, with the RTS index for that sector down 1.8% even after the late-day recovery.
Using the Goldman Sachs Commodities Index as a proxy for the costs of mining (because it is heavily weighted towards industrial commodities), the real cost of mining gold jumped by nearly 50% during this period, explaining why gold stocks did not provide the leverage that gold investors expected.
FORBES: Gold Mining Stocks Are An Increasingly Attractive Opportunity
And weaker metals prices pushed London's FTSE 100 index 2.2% lower at close as mining firm Antofagasta shed 7.85%.
Since the merger announcement, US Gold and Minera have outperformed gold and silver, as well as the McEwen Junior Gold Index launched two years ago for exploration-stage junior mining companies, McEwen noted.
FORBES: McEwen: Minera-US Gold Proposal Proceeding; Labor For A Challenge For Exploration Companies
Global X Pure Gold Miners ETF ( GGGG) seeks to track an index that limits inclusion to companies that generate the vast majority of their business from gold mining.
应用推荐