NUGT is trading at $183.60, down 3.23% from the August 31 close of $189.73, as the 10-year Treasury yield climbed above 4.75%, pressuring gold and leveraged gold-mining shares.

  • Gold remains near a two-week low as markets price a higher probability of a September Fed hike.
  • Renewed U.S.-Iran tensions pushed oil higher, raising inflation concerns and reinforcing expectations for tighter monetary policy.
  • The haven bid has not offset the rate-driven gold selloff.