[miningmx.com] – GOLD shares are back in vogue with investors making more money from investing in them than in the metal, said Bloomberg News citing data from the Market Vectors Gold Miners ETF.
It climbed 27% this year more than double the 13% advance for the SPDR Gold Trust which is the world’s largest ETF backed by bullion.
“Miners got caught in the crush,’ Peter Sorrentino, a senior portfolio manager at Huntington Asset Advisors told Bloomberg News.
“Some of them lowered production and sold off mines and announced writedowns. They fell to a level that bore no resemblance to the underlying economic value, and started to look so attractive,’ he said.
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