An inverse gold miners ETF rose 7% on August 24 as stocks reflected the hit taken by precious metals, ETF Trends reports. The Direxion Daily Gold Miners Bear 2x Shares aims for daily investment results of 200% of the inverse of the price performance of the NYSE Arca Gold Miners Index.
In the August 24 sell-off, gold prices plunged nearly $100 an ounce, while stock ETFs were gained on the back of strong durable goods orders. The Market Vectors Gold Miners ETF witnessed a fall of more than 3%.
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