🔴 NUGT is trading 3.9% down today as gold miners retreat amid firmer yields and profit-taking

NUGT is trading 3.9% down today as gold-mining stocks give back part of yesterday’s rebound following a stabilization in Treasury yields.

• The move is largely driven by profit-taking in the 2x-leveraged ETF following sharp recent swings and a lack of major U.S. economic data releases.
• Slightly firmer yields and a softer gold backdrop are pressuring rate-sensitive mining shares.
• Broader market indices are trading modestly lower, adding to the downward pressure on the volatile leveraged product.