🔴 Gold Miners ETF (GDXU) is trading 3% down as oil-driven inflation concerns weigh on gold

GDXU is trading at $79.95, down 3.02%, as higher oil prices revived inflation concerns and pressured gold.

• Spot gold fell 0.3% to $4,045.29 an ounce; December futures dropped 0.4% to $4,059.00.
• Investors were cautious ahead of the Federal Reserve’s October 28 rate decision, weighing effects on non-yielding bullion and gold miners as expectations rose that interest rates may stay higher for longer.
• Broader stocks were little changed, leaving precious-metals weakness the key sector catalyst.