The MicroSectors Gold Miners 3x Leveraged ETN (GDXU) closed up 0.52% at $38.57 on December 10, 2024, as gold mining stocks experienced a modest rise amid sector-specific developments. The underlying securities, including GDX and GDXJ, saw slight increases of 0.34% and 0.30%, respectively. Newmont Corp., the world's largest gold miner, announced further workforce reductions as part of a corporate overhaul aimed at cost-cutting, following disappointing earnings and a need to capitalize on high gold prices. This restructuring, along with Newmont's divestment of the Cripple Creek & Victor Gold Mine to SSR Mining for up to $275 million, reflects ongoing efforts to streamline operations and manage debt. Meanwhile, Lundin Gold raised its production guidance for the Fruta del Norte mine, projecting up to 525,000 ounces of gold in 2025, which could bolster investor sentiment in the gold mining sector.