Direxion Daily Gold Miners Bull 2X (NUGT)

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" ..... However, [ ] added that a stumbling physical market for gold in Asia was adding downside pressure to this picture. In China, average volumes on the Shanghai Gold Exchange this week were seen lower.

The picture also remained weak in gold's other key physical market, India. While demand may be strong for gold in India, Import limitations imposed by the government in an effort to address its current-account deficit are affecting the supply chain to consumers.

Choked-up supplies and festival-season demand are leading Indian gold buyers to pay big margins over its international price to ensure immediate delivery.

"Large buying volumes in the second quarter have been run down as imports dried up in the second half of the year amid the challenging regulatory environment," noted [ ] adding these stocks could run out completely around November, the month of India's key festival for gold purchases, Diwali.

"The reality is that the supply chain in India is currently too slow to keep up with what is expected to be strong physical demand during the Diwali holiday period,"......"