Gold miner ETFs surge to ring in the new year

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Exchange-traded funds linked to gold miners surged higher on the first trading day of 2021 as investors turned back to the yellow metal as a hedge against concerns about the coronavirus and government efforts to contain it. The iShares MSCI Global Gold Miners ETF jumped 6.5% in midmorning trade, while the VanEck Vectors Gold Miners ETF was up 5.5% and the Sprott Gold Miners ETF gained 4.6%. Gold for February delivery was up 2.7% or $51, to $1946, punching above a psychological round-number benchmark at $1,900. Miner stocks tend to move more sharply than the price of the underlying asset.
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