SAND - Gold Stocks Could Gain In Catch-Up Rally Says Peter Schiff: 'Explosive Move Up Can't Be Far Away' | Benzinga
Gold has been on a tear of late and closed at a record high on Friday. An economist said on Friday gold miners have lagged the rally in the yellow metal and could soon play catch-up.
What Happened: Gold’s record run hasn’t sparked interest in gold mining stocks, said economist and gold bull Peter Schiff. On Friday, gold futures settled at $2,186.20, up 0.97%. Despite the development, exchange-traded funds comprising gold mining stocks were essentially unchanged in the session. The VanEck Gold Miners ETF (NYSE:GDX) ended Friday’s session up 0.10% $29.64, while the VanEck Junior Gold Miners ETF (NYSE:GDXJ) fell 0.42% to $35.93, according to Benzinga Pro data.
“An explosive move up can’t be that far away. So ...