The two best conditions that you can have for gold mining stocks are a recovering stock market and rising gold prices. Ever since the week that European Central Bank president Mario Draghi made his whatever-it-takes promise, gold miners have been blazing higher, helped by gold’s renewed gleam in anticipation of ECB action and a stock market that has been shooting higher.
Since July 23, the price of the metal, tracked by the GLD, is 12.7% higher, but the Market Vectors Gold Miners (GDX) ETF has jumped 32.3%. Hecla Mining is up an astounding 51%, while Goldcorp and Agnico Eagle are both up better than 40% in just eight weeks.
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