The MicroSectors Gold Miners 3x Leveraged ETN (GDXU) surged 5.08% during intraday trading on Friday, reflecting significant bullish momentum in the gold mining sector.
The sharp rise appears driven by multiple supportive factors for gold and gold mining equities. AngloGold Ashanti, a major gold producer, reported record annual free cash flow that tripled to $2.9 billion for 2025, alongside a significant dividend increase, highlighting strong fundamental performance in the sector. Concurrently, spot gold prices broke through the $5,000 per ounce barrier amid escalating geopolitical tensions in the Middle East, which has boosted safe-haven demand for the precious metal.
Market analysts point to a sustained bullish outlook for gold, with institutions like ZFX Shanhai Securities and the Hong Kong Gold Exchange forecasting further price gains, potentially challenging $6,000 per ounce later this year. This positive backdrop for underlying gold prices, combined with robust earnings from key industry players, is fueling leveraged gains in instruments tracking gold mining stocks.