NUGT is trading 4.7% down as higher Treasury yields pressure bullion.

  • Gold is retreating about 0.5% toward $4,447, raising its opportunity cost.
  • Rising oil prices and worsening U.S.-Iran tensions are intensifying inflation concerns, pushing long-term yields higher and weighing on non-yielding gold and leveraged mining shares.
  • Traders are awaiting the Federal Reserve’s July meeting minutes for interest-rate guidance.