🔴 Gold Miners ETF (GDXU) is trading 8.62% down today after hot PPI pressures gold

GDXU is trading at $148.09 (-8.62%) after hot August PPI lifted rate concerns and pressured gold.

• August headline PPI rose 0.4% month over month and 5.4% year over year.
• Spot gold fell 1.39% after the 8:30 AM ET release, weakening gold-miner equities and magnifying GDXU’s leveraged downside.
• Elevated oil near $100, rising Treasury yields and profit-taking after September 9’s rally added inflation and risk pressure.