On June 5, VanEck Gold Miners ETF (GDX) fell 5.13% in regular trading, trading at $81.12/share, with trading volume of $992 million.

On the news front, COMEX gold futures broke below the $4500 level during the session, trading near $4470. Fed rate hike expectations continued to intensify after U.S. May ISM manufacturing data hit a four-year high, with the interest rate swap market now fully pricing in a rate hike. Industry analysts noted that the precious metals market is expected to remain in a volatile consolidation phase.

The ETF tracks the NYSE Arca Gold Miners Index, with holdings in major global gold mining companies including Newmont and Barrick Gold. The decline in gold prices directly pressures earnings expectations for constituent stocks, as lower bullion prices reduce projected mining revenues and margins across the sector.

The fund normally invests at least 80% of its total assets in common stocks and depositary receipts of companies involved in the gold mining industry. The index is a modified market-capitalization weighted index primarily comprised of publicly traded companies involved in the mining for gold and silver. The fund is non-diversified.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)