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On May 22nd a new metals based Exchange Traded Fund began trading on the Amex (GDX). The new Market Vectors - Gold Miners ETF was launched by the Van Eck Global firm and trades under the ticker symbol GDX. Those who follow the Exchange Traded Fund Industry are likely to be aware of streetTRACKS Gold (GLD), iShares Comex Gold Trust (IAU) and iShares Silver Trust (SLV). All these funds have come into being with a great deal of fanfare. This new fund which tracks the Gold Miners Index happened to have been launched during one of the most precipitous drops in precious metals prices seen in years. No wonder why you may have missed its launch.<br />
<br />
Its' downplayed launch was too bad, especially because the Gold Miners ETF is the only one of its kind in the US. Though it is related to the precious metals industry, it is much diferent then the GLD, IAU, and SLV Funds, which are all based on the prices of either silver or gold. This is a very narrow focus, much more like investing in commodities then in equities.<br />
<br />
The Amex Gold Miners Index, is the first exchange-traded fund in the U.S. offering investors exposure to the gold-mining equity market, as opposed to just the metal itself. This is more broad based for investors and is based on equities in the industry not commodity prices. The new ETF may present more opportunities to benefit from volatility, as mining-related shares tend to move more dramatically than overall bullion. Another key difference is that, unlike GLD, the GDX is optionable. The top ten holdings in this new ETF are:<br />
<br />
Newmont Mining 13.51<br />
Barrick Gold 8.50<br />
AngloGold Ashanti 7.51<br />
Goldcorp 6.53<br />
Gold Fields 6.50 <br />
Freeport-McMoran 6.16<br />
Glamis Gold 4.97<br />
Harmony Gold 4.37<br />
Kinross Gold 4.06<br />
Buenaventura 3.72<br />
<br />
With the recent downturn in gold and silver stocks , much of the thunder wa

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