GDX is trading at $102.93, up +3.08% in pre-market as gold futures rose about 1.05% overnight after bullion held above $4,500, providing a direct tailwind for gold producers.
- Treasury’s expanded long-term bond-buyback program supported gold through lower yields and a softer dollar.
- Persistent Middle East tensions are adding safe-haven demand.
- Miners continue outperforming bullion as August’s rally improves expected margins.