An ETF Gold Mine Launches

Gold is glittering again in the ETF world.

The Market Vectors-Gold Miners(GDX Quote) exchange-traded fund began trading Monday on the Amex. The new ETF, designed to track the performance of the Amex Gold Miners Index, is the first exchange-traded fund in the U.S. offering investors exposure to the gold-mining equity market, as opposed to just the metal itself.

There currently are two ETFs on the market providing direct exposure to gold bullion, streetTRACKS Gold(GLD Quote) and the iShares Comex Gold Trust(IAU Quote). Holders of those funds own shares that each represent a fraction of the price of an ounce of gold. ...