NUGT is trading at $187.39 (-2.32%) as gold and gold-mining shares weaken after August payrolls reached 162,000, far above the 55,000 forecast, increasing expectations for a September Federal Reserve rate hike.
- Gold futures were recently down about 0.9%, while Newmont traded lower as rising yields reduced gold miners’ appeal.
- Higher Treasury yields and a stronger dollar raise the opportunity cost of holding gold; risk-off conditions and weaker equity futures add pressure.