GDXU is trading at $78.01, up 4% from its July 31 close, signaling a recovery after a sharp 11% selloff driven by profit-taking in the gold mining sector.
- The move aligns with firmer U.S. equity futures and improved global risk sentiment as gold miners and underlying gold prices stabilize.
- The price action is prompting short-covering and dip-buying in this highly leveraged exposure following recent oversold conditions.