🔴 Gold Miners ETF (GDX) is trading 3.7% down today as dollar and Fed hawkishness pressure gold

GDX is trading 3.7% lower as dollar strength and hawkish Federal Reserve commentary reinforce expectations for restrictive monetary policy.

• Reuters reported spot gold down 0.9% to $4,316.78 per ounce; traders priced a 53% chance of another October rate hike.
• Higher rates, yields and dollar strength reduce bullion’s appeal and pressure miners’ margins. Falling silver and platinum add to precious-metals weakness.
• Major U.S. equity indexes had only modest losses, indicating a precious-metals and macro-rate-driven move rather than broad-market selling.