In an increasingly volatile market, gold mining stocks have outperformed expectations. Here’s how industry stakeholders can capitalize on that growth.
Between international trade tensions and the effects of interest rate changes from the Federal Reserve, it’s been a tough summer for the stock market.
Despite this volatility, however, gold has had a considerably better summer than the rest of the stock market. Just this month, futures for the precious metal surpassed $1,500 for the first time since April 2013, bringing their overall 2019 gain to 18%. Given this rise, it should come as no surprise that gold mining ETFs and stocks have seen marked gains. As uncertainty continues to grip the general marketplace, these stocks offer a beacon of stability and reliability.
While gold’s performance is something to celebrate, it should also be considered an opportunity for mining companies to solidify their gains. As the value of gold surges, mining companies should consider how they can invest in maintenance solutions that can make their worksites safer, more environmentally friendly, and increasingly cost-effective.
Gold Mining Stocks On the Rise
In addition to soaring gold prices, gold mining ETFs and stocks have been outperforming the rest of the market. On Tuesday, VanEck Vectors Gold Miners ETF GDX was up 3.9%. The fund is one of the most popular and regularly traded gold miner ETFs with an AUM of $9.2 billion and an average daily volume of approximately 44 million shares.
At the same time, iShares MSCI Global Gold Miners ETF RING was up 3.57%, U.S. Global GOLD and Precious Metal Miners ETF GOAU was up 3.3%, and Sprott Gold Miners ETF SGDM was up 2.7%. The performance of these ETFs all points toward the relative strength of the gold mining industry compared to other players in the wider marketplace.
Capitalizing on Solid Performance
The rising price of gold and the strong performance of gold mining stocks are a boon to the precious metal mining industry during a time of international economic volatility. While key decision-makers should be celebrating, they should also be considering how they can capitalize on this growth for the continued success of their operations. By investing in industry-leading maintenance solutions, such as dust control products and application programs from Midwest Industrial Supply, Inc., gold mining companies can keep their worksites in prime working condition.
With more than 40 years of experience in the dust control industry, Midwest has the know-how mining companies need to maintain their work sites, protect their workers, and ensure clean air quality for nearby communities. If you’re looking for a targeted treatment plan or an all-in-one managed service provider, Midwest offers turnkey solutions for mining companies looking to cut maintenance costs, prioritize compliance, and boost efficiency.