$VanEck Gold Miners ETF(GDX.US) rose by five points, while the $Pro Ultrshrt Silver(ZSL.US) for shorting silver fell by eight points. Gold and silver are strengthening together in this wave, with precious metals as a whole being repriced. Gold mining products directly benefit from high gold prices, and the 2x inverse silver tool is naturally pushed down when silver prices rise. In the same precious metals rally, these two move in opposite directions. With safe-haven demand and rate cut expectations still in play, sentiment on this line remains strong in the short term 😎
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