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How Are Mining Stocks’ Correlations to Gold Moving in 2018?

How Are Mining Stocks’ Correlations to Gold Moving in 2018?

Mining stocks tend to take their cues from gold price movement. Mining-based funds have a high correlation with precious metals. The VanEck Vectors Gold Miners ETF (GDX) and the Sprott Gold Miners (SGDM) rose 1.1% and 0.52%, respectively, on Friday, February 23.