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Gold miners rally despite gold futures drop, with mixed options trades signaling uncertainty.

Market News
26 May 2026
CNBC
View Source
Neutral
pluang ai news

Gold miners ETF (GDX) surged over 4% even as gold futures declined, driven by bullish options activity with call volumes outpacing puts. However, a large bearish options trade in GDX and heavy bearish activity in Newmont Mining options suggest some traders expect further downside. This mixed sentiment reflects uncertainty amid geopolitical tensions and unclear interest rate outlooks, marking a critical moment for gold and related stocks. Gold remains down 20% from its January peak but up significantly over two years, with miners outperforming the metal itself.

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