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Direxion Daily Gold Miners Index Bear 2X Shares (DUST) falls 13% as gold miners rally on strong Q2 earnings
The inverse ETF DUST dropped on Friday, extending its decline as the underlying VanEck Gold Miners ETF (GDX) jumped 7%. This surge in gold miners follows blowout Q2 earnings from major players like Newmont and Agnico Eagle Mines, coupled with gold prices holding near record highs. Newmont reported record Q2 free cash flow of $2.2 billion, while Agnico Eagle saw revenue up 35%, with both beating EPS estimates.
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