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For investors seeking momentum, iShares MSCI Global Gold Miners ETF (RING - Free Report) is probably on the radar. The fund just hit a 52-week high and has moved up 53.4% from its 52-week low of $25.70 per share.
Are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea of where it might be headed:
RING in Focus
iShares MSCI Global Gold Miners ETF offers exposure to companies that derive the majority of their revenues from gold mining. Canadian firms take more than half of the portfolio, while the United States takes the next spot with 18.8% share. RING is the cheapest choice in the gold mining space, charging just 39 bps in fees and expenses (see: all the Materials ETFs here).
Why the Move
The gold mining sector of the broad stock market has been an area to watch lately, given the unstoppable rally in the metal’s price. The bullion topped $3,200 for the first time after breaching $3,100 just a few days before. Strong safe-haven demand amid Trump’s tariff chaos has been driving gold higher. The potential for faster-than-expected Fed rate cuts and a weak dollar are adding further shine to the yellow metal.
Image: Bigstock
Gold Miner ETF (RING) Hits New 52-Week High
For investors seeking momentum, iShares MSCI Global Gold Miners ETF (RING - Free Report) is probably on the radar. The fund just hit a 52-week high and has moved up 53.4% from its 52-week low of $25.70 per share.
Are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea of where it might be headed:
RING in Focus
iShares MSCI Global Gold Miners ETF offers exposure to companies that derive the majority of their revenues from gold mining. Canadian firms take more than half of the portfolio, while the United States takes the next spot with 18.8% share. RING is the cheapest choice in the gold mining space, charging just 39 bps in fees and expenses (see: all the Materials ETFs here).
Why the Move
The gold mining sector of the broad stock market has been an area to watch lately, given the unstoppable rally in the metal’s price. The bullion topped $3,200 for the first time after breaching $3,100 just a few days before. Strong safe-haven demand amid Trump’s tariff chaos has been driving gold higher. The potential for faster-than-expected Fed rate cuts and a weak dollar are adding further shine to the yellow metal.
More Gains Ahead?
RING has a weighted alpha of 50.94 and a 20-day volatility of 49.39%, which shows that there is still some promise for investors who want to ride on this surging ETF.