NUGT is trading 4.2% down today, extending losses from its previous close of $204.73 as persistent inflation and surging energy costs weigh on the leveraged gold mining sector.
- April CPI rose 3.8% YoY, exceeding forecasts and dampening expectations for Federal Reserve rate cuts, which has placed significant pressure on gold miners.
- Escalating Middle East tensions have driven oil prices above $107 per barrel, sharply increasing operational costs for miners and offsetting the benefits of gold's safe-haven appeal.