Gold prices have been on an upward trajectory, gaining for the third consecutive day as of January 9, 2025, ahead of U.S. economic data releases that could influence the Federal Reserve's interest rate decisions. The anticipation of this data has fueled investor interest in gold as a safe-haven asset, particularly amid ongoing global economic uncertainties. Additionally, weaker-than-expected private payrolls data earlier in the week has bolstered gold's appeal, as it suggests a potential slowdown in the U.S. labor market, which could lead to a more dovish stance from the Fed. This environment has created a favorable backdrop for gold miners, contributing to the positive sentiment in the sector.
The MicroSectors Gold Miners 3x Leveraged ETN (GDXU) rose to $32.43, marking a 1.89% increase from the previous close.