In March 2020, VanEck Gold Miners ETF (GDX) bottomed when the assets under management (AUM) of Direxion Daily Gold Miners Index Bull 2X Shares (NUGT) became 3.6% the AUM of GDX.
At yesterday's close of trading, the AUM of NUGT have declined to 3.7% the AUM of GDX. This means gold stocks have already been fully deleveraged (leverage never declines to zero).
We believe Augusta Gold (TSX: G) is the highest quality gold stock that will make the largest percentage gains in the months ahead. G has just closed on its acquisition of the Reward Gold Project, which gives G ownership of the only fully permitted gold project in the Beatty District of Nevada, with G's construction of the Reward Gold Mine set to begin later this year!
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. This message is not a solicitation or recommendation to buy, sell, or hold securities. NIA's President has purchased 169,200 shares of G in the open market and intends to buy more shares. This message is meant for informational and educational purposes only and does not provide investment advice.