🔴 Gold Miners ETF (NUGT) is trading 2.1% down as oil-fueled inflation concerns pressure bullion

NUGT is trading at $127.38, down 2.11%, as weakness in bullion weighs on gold miners.

• Higher oil prices revived inflation concerns as markets awaited the Fed’s rate decision.
• A firmer dollar, elevated Treasury yields, and expectations that rates could stay higher for longer also weighed on non-yielding gold.
• The decline follows Tuesday’s rebound in miners, with the Fed’s policy outlook a key near-term risk.