🔴 Gold Miners 3X ETF (GDXU) is trading 17.71% down as oil and yields pressure gold

GDXU is trading at $105.13, down 17.71%, as rising oil prices and Treasury yields pressured gold amid renewed rate-hike concerns.

• Iran–U.S. tensions over the Strait of Hormuz and rejection of Iran’s proposal renewed concerns about oil supply and inflation.
• Reuters reported spot gold fell 2.7% on September 28.
• Gold weakness weighed on gold-miner exposure; GDXU’s leveraged structure can magnify moves in the underlying sector.