NUGT is trading 2.6% up in pre-market action as gold miners rebound from a sharp 7.6% decline experienced on July 31.
- The recovery is supported by higher U.S. equity futures and a cooling of geopolitical tensions linked to Iran, which has helped stabilize gold-miner sentiment.
- The move follows a significant unwind of defensive positioning last week, triggered by a broad risk-on rotation into tech and growth stocks.
- Market participants are monitoring the sector for a sustained recovery after the recent volatility in defensive assets.