🔴 Gold Miners ETF (NUGT) is trading 3.7% down in pre-market as rate-hike bets pressure gold

NUGT is trading at $176.00 (-3.70%) in pre-market as firmer inflation data raises rate-hike expectations.

• Gold fell overnight toward $4,329.77, while materials-sector miners struggled, pressuring leveraged gold-miner exposure.
• Markets price roughly a 90% probability of a Fed rate hike on September 16.
• Treasury yields near 5.0% increase the opportunity cost of holding non-yielding gold.