Quick Read – NUGT surged 14% and AGQ jumped 9% today, but both funds remain deeply negative for 2026 despite the rally. – Kinross posted record free cash flow of $840 million in Q2; Gold Fields grew production 15% at a $4,855/oz realized gold price. – NUGT’s 10-year return of…
9% shows how daily-reset compounding decay can devastate leveraged ETF holders over any multi-day window. – Leveraged precious-metals ETFs are the standouts on Wall Street this session, with the Direxion Daily Gold Miners Bull 2X Shares (NYSEARCA:NUGT) surging 14.46% and the ProShares Ultra Silver (NYSEARCA:AGQ) climbing 9.39% as both gold and silver spot prices rally, both up between 4% and 5%. The SPDR Gold Shares (NYSEARCA:GLD) is up 4.3% on the session, and traders are attributing the metals bid to a softer US dollar, easing Treasury yields, and market expectations around cooling inflation and geopolitical de-escalation
Those are the catalysts being cited on desks rather than any single confirmed event. Context matters here. Despite today’s pop, both leveraged products remain deeply negative for the year.
NUGT is still down 33.25% year to date, AGQ is down 56.47%, and even GLD itself is off 5.59% YTD. Today is a sharp bounce inside a choppy market for the metals complex. Direxion Daily Gold Miners Bull 2X Shares (NUGT) NUGT is a complex, higher-fee leveraged product that targets 2x the daily performance of a gold-miners index.