🔴 Gold Miners ETF (NUGT) is trading 7.39% down as oil-fueled inflation fears pressure gold miners

NUGT is trading at $130.69, down 7.39%, as rising oil prices and inflation concerns weighed on gold miners.

• Renewed Middle East hostilities lifted oil prices, stoking inflation concerns and fears of tighter monetary policy.
• Gold fell more than 1% to a two-week low as oil climbed above $112 a barrel, pressuring bullion.
• NUGT’s 2× daily leverage amplifies moves in gold-mining shares, adding to the decline.