Gold prices surged on January 30, 2025, as spot gold tested $2,780 per ounce following a decline in U.S. GDP growth to 2.3% in Q4. This economic slowdown has bolstered gold's appeal as a safe-haven asset, further supported by the European Central Bank's decision to lower interest rates, which has driven gold to all-time highs against the euro. Additionally, the U.S. weekly jobless claims dropped to 207,000, providing a mixed economic signal that has kept gold prices buoyant. The mining sector is also seeing positive momentum, with Heliostar Metals reporting significant high-grade gold intersections at its La Colorada Mine in Mexico, potentially boosting investor sentiment in gold mining stocks.
The MicroSectors Gold Miners 3x Leveraged ETN (GDXU) rose to $39.77, marking a 9.12% increase as of 10:00 AM ET on January 30, 2025.