NUGT: Strong Employment Data May Be Bad For Gold The Direxion Daily Gold Miners Index Bull 2X ETF i...
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NUGT: Strong Employment Data May Be Bad For Gold The Direxion Daily Gold Miners Index Bull 2X ETF is best used for short-term trades, not long-term holds, due to leverage-induced value erosion. Incoming macro data—especially strong employment figures—would support further rate hikes, which are negative for gold and doubly so for NUGT. Some precursor figures on private data that predict nonfarm payrolls have already come in strong with gold not reacting so far.
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