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GDX, the VanEck Gold Miners ETF, has shown outsized volatility versus gold, recently underperforming during the latest correction. Gold's long-term bull trend remains intact, with buying on weakness historically optimal; mining shares often outperform on rallies. GDX's recent divergence—making new highs while gold did not—signals potential for mining shares to outperform if gold's rally resumes.

Top Performing Leveraged/Inverse ETFs Last Week These were last week's top performing leveraged and inverse ETFs. Note that because of leverage, these kinds of funds can move quickly.

Gold has always been one of the go-to assets when stomach-churning volatility forces queasy investors into safe havens. However, recent volatility has been challenging that safe haven narrative, and one of the drivers has been speculative trading activity in China ETFs.

A late January slide reminds investors that even gold doesn't move up in a straight line. Still, the largest plain vanilla ETF dedicated to gold mining stocks is delivering a strong 2026 showing.

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT - Get Free Report)'s share price gapped down prior to trading on Friday. The stock had previously closed at $286.12, but opened at $238.60. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $243.3140, with a volume of 409,025 shares. Direxion Daily