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Benzinga
Benzinga
Business
Melanie Schaffer

Here's What To Watch On Direxion Daily Gold Miners Index Bull 2X Shares (NUGT)

NUGT Gold NYSE ETF

Direxion Daily Gold Miners Index Bull 2X Shares (NYSE:NUGT) was trading down about 2% on Monday in continued consolidation after plunging over 6% lower on Thursday.

The gold miners sector recently enjoyed a long bull-cycle, which lasted from Jan. 28 to April 18 of this year and caused NUGT to soar 102% higher during that timeframe. Since late April, NUGT has erased all of its gains, however, plunging 54% from its 52-week high of $82.86.

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