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JNUG Jumps 5.98% as Gold Prices Hit Record Highs Amid Safe-Haven Demand

Gold prices have surged to record highs, driven by escalating safe-haven demand amid ongoing economic uncertainties and geopolitical tensions. The recent spike in gold prices is attributed to concerns over inflation and the global economic outlook, prompting investors to flock to gold as a reliable store of value. Central banks worldwide are maintaining accommodative monetary policies, further supporting the demand for gold. Additionally, strong retail interest and increased purchases from central banks are bolstering gold's upward trajectory. This environment has created a favorable backdrop for gold miners, which have been lagging behind the precious metal but are now poised for potential catch-up as gold prices continue to rise.

The Direxion Daily Junior Gold Miners Index Bull 2X Shares (JNUG) rose to $51.93, marking a 5.98% increase from the previous close as of 10:00 AM ET on February 5th.