Amid rallies for riskier assets late in 2020, once-hot gold is retreating and those declines are weighing on miners, which often overshoot bullion s price action in either direction.
What Happened: Over the past month, the largest gold-backed exchange traded fund is lower by 1.38%, and the biggest ETF dedicated to gold miners is more than three times as bad, trading down 5.57%.
That would appear to be a perfect storm in which to embrace the
Direxion Daily Gold Miners Index Bear 2X Shares (NYSE:DUST) while ignoring the
Direxion Daily Gold Miners Index Bull 2X Shares (NYSE:NUGT).
The bullish NUGT attempts to deliver double the daily performance of the NYSE Arca Gold Miners Index, while the bearish DUST tries to mirror double the daily inverse performance of that index. That index is the benchmark for the largest plain vanilla miners ETF.
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