🔴 Gold Miners ETF (NUGT) is trading 2.69% down as oil rebound fuels inflation and rate fears

NUGT is trading at $113.95, down 2.69%, as oil-driven rate fears weigh on gold.

• Oil rebounded after reports of U.S. strikes on Iran’s Qeshm Island, reviving concerns about energy supply disruptions and inflation.
• Higher oil-driven inflation fears strengthened expectations for tighter Fed policy, pressuring non-yielding gold; spot gold fell 0.9% to $3,913.62 in one report.
• NUGT’s leveraged gold-miner exposure can magnify underlying-sector moves; it gained 5.14% on November 2.