🔴 Gold Miners ETF (GDX) is trading 3.4% down in pre-market after profit-taking following September 3 rally

GDX is trading at $98.04 (-3.40%) after profit-taking followed its 3.95% rally on September 3.

• Gold remains near $4,468.29, up 1.76%, limiting the sector’s downside rationale.
• Investors are reducing leveraged miner exposure before August payrolls, expected at 58,000 after July’s -23,000.
• Softer yields and a weaker dollar support bullion, but elevated yields and mixed futures encourage caution.