Investors Chasing Rally in Gold Miner ETF Face Jobs Heat Check

Investors betting that a torrid rally in gold miners has room to run face a test of their conviction as the US government gets set to deliver jobs data from August.

An unexpectedly weak reading in July, along with Donald Trump’s jawboning of Federal Reserve officials, all but clinched a rate cut later this month. That prompted investors to pour $531 million into the VanEck Gold Miners ETF last month, the most since November 2023.