NYSE Arca Gold Miners Index
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The GDX is an exchange-traded fund launched in 2006 to mirror the performance (price and yield) of the 50-plus global gold mining companies comprising the NYSE Arca Gold Miners Index.
GDX trades all day, much like a stock. It has some $16 billion in assets. About one-third of the fund is invested in four mining companies: Newmont (NEM); Barrick Gold (GOLD); Franco-Nevada (FNV) and Agnico Eagle (AEM).
For the ten-year period ending Sept. 30, GDX's share price has declined about 3% per year on an annualized basis. But in 2020, as of Mid-November, with the price of gold rallying against a weaker dollar, GDX has returned 28%.
It's the industry's first ETF to track gold mining, an industry driven by demand across regions and segments of the market but which also can be subject to macro factors, such as the relative strength of the USD.
However, the worldwide scope and focus on mining of physical gold – to be included, companies must derive at least half of total revenues from gold mining and related activities – make this vehicle attractive on a fundamental basis.
How to invest in GDX with Uphold
You only need a verified Uphold account to buy GDX stock fast.
Here’s how fast it is to get started:
- Go to Uphold.com and click ‘Sign up’.
- Enter your email address, create a password, and complete an identity check.
- Your account will be activated, and you can start using Uphold.
You can then fund your account with your debit card, credit card, bank account, or crypto deposit. Your Uphold account can be used to make payments to vendors, send money to friends on the other side of the world, and more.
Uphold’s unique ‘Anything-to-Anything’ trading experience will make any currency exchange a seamless process, all commission-free.
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