🔴 Gold Miners ETF (NUGT) is trading 3.66% down in pre-market as oil and inflation pressure gold

NUGT is trading at $119.83, down 3.66%, in pre-market as higher oil prices and persistent U.S. inflation weigh on gold.

• Spot gold was down 0.6% at $3,997.39 per ounce in early trading Friday.
• Thursday’s inflation data and Fed signals, along with rising energy costs, strengthened expectations of a possible December Fed rate hike, weighing on non-yielding bullion.