On August 17, MicroSectors Gold Miners 3x Leveraged ETN rose 8.35% in regular trading, trading at $141.25/share, with turnover of $91.99 million.

On the news front, spot gold broke above the $4,400 mark again with an intraday gain of 0.55%, while Deutsche Bank issued a report stating that gold remains in its fifth explosive rally phase that began in 2024. The bank set a year-end target range of $4,700-$5,100 per ounce, citing dual inelastic demand support from central bank purchases and ETF inflows. ETF 30-day net inflows have reached 1.5 million ounces, and central bank gold buying hit an all-time high of $38.88 billion in real dollar terms in Q1. The core driver identified is the continued expansion of U.S. government debt, with futures positioning still at low levels suggesting upside has not been fully priced in. The 3x leveraged structure of this ETN amplified the underlying index gains. Additionally, U.S. July PPI data released earlier in the week came in below expectations, further cooling rate hike expectations and providing macro tailwinds for gold.

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