| On May 22nd a new metals based Exchange | | | | Barrick Gold 8.50 |
| Traded Fund began trading on the Amex (GDX). | | | | AngloGold Ashanti 7.51 |
| The new Market Vectors - Gold Miners ETF was | | | | Goldcorp 6.53 |
| launched by the Van Eck Global firm and trades | | | | Gold Fields 6.50 |
| under the ticker symbol GDX. Those who follow | | | | Freeport-McMoran 6.16 |
| the Exchange Traded Fund Industry are likely to | | | | Glamis Gold 4.97 |
| be aware of streetTRACKS Gold (GLD), iShares | | | | Harmony Gold 4.37 |
| Comex Gold Trust (IAU) and iShares Silver Trust | | | | Kinross Gold 4.06 |
| (SLV). All these funds have come into being with | | | | Buenaventura 3.72 |
| a great deal of fanfare. This new fund which | | | | With the recent downturn in gold and silver stocks |
| tracks the Gold Miners Index happened to have | | | | , much of the thunder was taken out of the |
| been launched during one of the most precipitous | | | | launch of the GDX. This fund had the unfortunate |
| drops in precious metals prices seen in years. No | | | | luck to be released for trading during a period in |
| wonder why you may have missed its launch. | | | | which the precious metals have seen their |
| Its' downplayed launch was too bad, especially | | | | greatest setback in years. The most popular of |
| because the Gold Miners ETF is the only one of | | | | the Gold ETF's streetTRACKS GLD has been |
| its kind in the US. Though it is related to the | | | | trading at a volume of 10 to 20 million shares for |
| precious metals industry, it is much diferent then | | | | most of May. The Gold Mining ETF, GDX, has |
| the GLD, IAU, and SLV Funds, which are all based | | | | traded at a volume of 200,000 to 600,000 shares |
| on the prices of either silver or gold. This is a | | | | in its first week. GDX, which is a broader based |
| very narrow focus, much more like investing in | | | | fund then GLD, may have easily traded at a |
| commodities then in equities. | | | | much higher volume its first week, if it wasn't for |
| The Amex Gold Miners Index, is the first | | | | a steep downturn in precious metals. |
| exchange-traded fund in the U.S. offering | | | | The question now is it a good time to buy this |
| investors exposure to the gold-mining equity | | | | new ETF? The Gold Mining Index which this new |
| market, as opposed to just the metal itself. This | | | | Exchange Traded Fund is based on, has just |
| is more broad based for investors and is based | | | | dropped from 1200 to 1000 in one week, a big |
| on equities in the industry not commodity prices. | | | | drop for an index of stocks. A bounce here is |
| The new ETF may present more opportunities to | | | | likely. There was a great deal of speculation in |
| benefit from volatility, as mining-related shares | | | | gold. Even if this is the bottom, it will take some |
| tend to move more dramatically than overall | | | | time before Gold prices begin to recover from |
| bullion. Another key difference is that, unlike GLD, | | | | their recent plunge. Keep a close eye on the |
| the GDX is optionable. The top ten holdings in this | | | | trading volume for GDX to see if institutional |
| new ETF are: | | | | investors begin moving into this fund. |
| Newmont Mining 13.51 | | | | |