
Gold mining ETFs are rallying with the bullion, with the Themes Gold Miners ETF (NASDAQ:AUMI) reaching a 52-week high on Friday at $74.89 — up around 121% from lows.
Since the end of July, AUMI has outperformed the Invesco QQQ Trust ETF (NASDAQ:QQQ) by more than 40% (93% year-to-date), stealing the spotlight from the once-dominant "Magnificent 7" tech giants. QQQ mirrors the Nasdaq 100 index, thus being considered a proxy to the index itself.