Introducing AUAU: The Case For Gold Miners
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Global X ETFs3.57K FollowersFollow5ShareSavePlay(19min)SummaryStructural buying trends associated with central banks and fundamental shifts in the global macroeconomic environment have fueled gold’s record rally in 2025.We believe such factors are likely to remain intact going into 2026 and beyond.Historically elevated profit margins point to gold miners being undervalued and under owned as the trade into physical gold trusts becomes increasingly crowded. domnicky/iStock via Getty Images On December 10, 2025, we listed the Global X Gold Miners ETF (AUAU) on the New York Stock Exchange ARCA. AUAU delivers exposure to companies primarily involved in the gold mining industry. The fund seeks toThis article was written byGlobal X ETFs3.57K FollowersFollowFounded in 2008, Global X is a sponsor of exchange-traded funds (ETFs). We are distinguished by our Thematic Growth, Income, and International ETFs. Explore our insights on the trends and themes shaping global markets – from technology to commodities to emerging economies – at globalxfunds.com/research. Global X ETFs is a member of the Mirae Asset Global Investments Group. Important disclosures: globalxfunds.com/privacyQuick InsightsHow does AUAU differentiate itself from physical gold ETFs?AUAU provides exposure to gold miners, offering potential cash flows, operational leverage to gold prices, and shareholder distributions, unlike non-cash-flow-producing physical gold ETFs.What structural tailwinds support continued outperformance for gold miners in 2026?Sustained central bank gold buying, elevated gold prices, and expanding profit margins create a constructive environment for gold miners’ further outperformance into 2026.How have gold miners’ operating margins evolved, and what is the forward implication?Operating margins for NYSE Arca Gold Miners Index constituents tripled from 10.19% in Q2 2023 to 35.33% in Q3 2025, positioning miners for increased cash returns and potential shareholder distributions if gold prices remain high.Recommended For You