Gold Mining ETF (RING) Hits a New 52-Week High
For investors seeking momentum, iShares MSCI Global Gold Miners ETF RING is probably on the radar. The fund just hit a 52-week high and has moved up 73.8% from its 52-week low price of $27.70 per share. But are there more gains in store for this ETF? Let us take a quick look at the fund and the near-term outlook on it to get a better idea of where it might be headed:RING in FocusThe underlying MSCI ACWI Select Gold Miners Investable Market Index measures the equity performance of comps in both developed & emerging markets that derive the majority of their revenues from gold mining. RING charges 39 bps in annual fees (see all materials ETFs here).Why the Move?Gold’s recent resilience has been driven by surging central bank demand, especially from BRICS nations and emerging economies that are actively working to diversify away from the U.S. dollar. This global de-dollarization trend has resulted in record levels of sovereign gold purchases. Moreover, President Trump-led tariff tensions boosted the demand for gold and the related mining stocks and ETFs.More Gains Ahead?RING has a positive weighted alpha of 68.39. This suggests winning momentum of the fund and indicates that the outperformance could continue in the months ahead.Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report iShares MSCI Global Gold Miners ETF (RING): ETF Research ReportsThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks
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