🔴 Direxion Daily Gold Miners Index Bull 2X Shares is trading 5.3% down today as higher-for-longer rate expectations pressure gold miners

Direxion Daily Gold Miners Index Bull 2X Shares is trading 5.3% down today as a strong U.S. May jobs report continues to fuel higher-for-longer interest rate expectations, weighing heavily on gold-miner equities.

• The fund is extending a steep multi-day decline following Friday’s post-jobs-report collapse, as rising real yields reduce the appeal of non-yielding assets like gold.
• Because the ETF provides 2x leveraged daily exposure to the NYSE Arca Gold Miners Index, the underlying sector weakness is translating into outsized losses for the fund.