🔴 Direxion Daily Gold Miners Index Bull 2X Shares is trading 4.9% down today on higher-for-longer rate expectations following strong jobs data

Direxion Daily Gold Miners Index Bull 2X Shares is trading 4.9% down today, extending its sharp recent pullback after last week’s stronger-than-expected U.S. jobs report drove expectations for higher-for-longer interest rates.

• As a 2x leveraged play on gold miners, the fund is amplifying the downside move in the sector, which is underperforming broader equities as gold prices come under pressure.
• Selling pressure is being exacerbated by a modest decline in broader indices like the S&P 500 and Nasdaq, which typically weighs on higher-beta products like NUGT.