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Gold Mining ETF (RING) Hits a 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 73.8% from its 52-week low price of $27.70 per share.
But are there more gains in store for this ETF? Let us 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
The underlying MSCI ACWI Select Gold Miners Investable Market Index measures the equity performance of comps in both developed & emerging markets that derive the majority of their revenues from gold mining. RING charges 39 bps in annual fees (see all materials ETFs here).
Why the Move?
Gold’s recent resilience has been driven by surging central bank demand, especially from BRICS nations and emerging economies that are actively working to diversify away from the U.S. dollar. This global de-dollarization trend has resulted in record levels of sovereign gold purchases. Moreover, President Trump-led tariff tensions boosted the demand for gold and the related mining stocks and ETFs.
More Gains Ahead?
RING has a positive weighted alpha of 68.39. This suggests winning momentum of the fund and indicates that the outperformance could continue in the months ahead.