Opinions Jim McGovern
VanEck Gold Miners ETFGDXCOMMENTOct 03, 2016
Jim McGovernUnknown
$25.96
Stock price when the opinion was issued
$81.44
As of Jun 22, 2026. Market Open.
E.T.F.'s
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BUY
options This ETF has hung in there even as gold has flattened. The market bought 10,000 of the April 29 expiring calls, going for 70 cents. This is a breakout. Goldminers will continue to rise and maybe make new 52-week highs.
Pete NajarianOwned
E.T.F.'s
TOP PICK
Representative, cap-weighted. Gold performs well coming into the new year. That, plus rising stock market and rising gold prices, and you could see gold miners do quite well. The run could extend into March and April.
Brooke ThackrayOwned
E.T.F.'s
COMMENT
PAST TOP PICK
(A Top Pick Sep 09/19, Up 41%) This holds the big players like Newmont, without absorbing the risk of those companies. He's taken a little money off the table to buy mid-sized gold names like Alamos. He likes gold and this ETF was the purest play.
John ZechnerOwned
E.T.F.'s
PAST TOP PICK
(A Top Pick Jun 15/19, Up 10%) He was bullish on gold and still is. They got hit hard on the way down because of liquidity. Monetization of debt will cause a devaluation in currency and this is bullish for gold.
John ZechnerOwned
E.T.F.'s
COMMENT
Will the gold miners catch up to the gold price? They should but they are equities with risk. The monetization of debt that will be necessary by central banks around the world is a bullish scenario and gold stocks will eventually come. A lot of these mines aren't working today, however. He has positions in the sector.
E.T.F.'s
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.
E.T.F.'s
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.
John ZechnerOwned
E.T.F.'s
Gold mining shares have done very well this year on the back of a 20%+ rise on the price of bullion. Recently they have checked back quite a bit, and this is an attractive entry point. One of the challenging things with the miners is that gold shares have become a big part of some peoples’ risk parity type strategies. When big money wants to make a shift in or out, they seem to distort prices quite dramatically, so he has cut back a little on his gold mining shares to try and figure out what is happening. (See Top Picks.)