Leveraged gold miners ETF NUGT erased $1,700 from a $10,000 position in a single session amid a 3% gold decline.
Direxion Daily Gold Miners Index Bull 2X Shares (NUGT) fell 17.27% on June 5, 2026, shrinking a $10,000 investment to $8,300. The drop followed a 3.27% decline in gold bullion after U.S. payrolls surged to 172,000, far above the 80,000 estimate, lifting the 2-year Treasury yield to a 16-month high.
The unleveraged VanEck Gold Miners ETF (GDX) lost 8.75% the same day, while gold itself fell 3.27%. Over the past decade, GDX gained 246%, while NUGT lost 64% despite tracking the same index, highlighting the risks of daily leveraged exposure.
NUGT’s 2x daily leverage amplifies moves in the NYSE Arca Gold Miners Index, compounding losses when the underlying asset declines sharply.