Direxion Daily Gold Miners Bull 2X (NUGT)

[Stocknawe]

Looks like the European community is discounting gold for the Iran deal, might be a war premium or perhaps the economic stumulius if renewed trade with Iran, or combination of both. Knee jerk reaction bringing gold futures down to $1231at early morning London time. Options expiration on Monday might put additional pressure on the shiny stuff. Lot's of new oil coming to market will definitely pressure oil, production numbers are just a guess right now. Cheap oil might hurt oil production in the US, whereby a $90 threshold is necessary to assure profitability. It will take a couple of days to shake out, but right now gold prices have now taken a back seat to oil prices. More money will be available for consumers with cheaper oil, more consumer spending equates to more probability of a Fed taper. Just what the miners didn't need.