On September 17, MicroSectors Gold Miners 3x Leveraged ETN fell 8.57% in regular trading, trading at $122.89/share, with turnover of $219 million.

On the news front, the Federal Reserve announced a 25-basis-point rate hike, lifting the federal funds rate target range to 3.75%–4.00% — the first increase in over three years — with the decision passing unanimously by a 12-0 vote. Spot gold plunged more than $50 in the immediate aftermath, last quoted near $4,317.65 per ounce. The accompanying economic projections showed a year-end median rate forecast of 4.1%, signaling the possibility of at least one additional hike this year and reinforcing the hawkish tone that weighed heavily on precious metals.

The sell-off had been building ahead of the decision. Earlier in the week, hotter-than-expected August PPI data — up 5.4% year-over-year — combined with the CPI release had already pushed market-implied probability of a September hike to roughly 60%, driving the ETN down over 11% on September 14. As a triple-leveraged product, the ETN magnifies underlying gold miner losses, significantly amplifying downside moves in the sector.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)