“Poor data continues to come in, and that’s helped keep gold prices above the $1,300 per ounce mark. That price point is seen as critical for the miners of the precious metal. All the miners have a price floor called “all-in sustaining costs,” and $1,300 per ounce is well above the major miners costs,” reports InvestorPlace.
However, it must be noted that the Fed did not give a specific timeframe for when it could raise rates again. As investors have already learned this year with gold and gold miners, the longer rates stay low, the better for gold-related assets.
SEE MORE: 31 Gold ETFs Investors Should Size Up
Leveraged answers to NUGT and JNUG include the Direxion Daily Gold Miners Bull 3X Shares (NYSEArca: NUGT) and the Direxion Daily Junior Gold Miners Index Bull 3X Shares (NYSEArca: JNUG).
Gold miners currently trade at about a 59% discount to gold prices since 2009, have a price-to-book value of 1.0x and an average dividend yield of 2.8%, which makes the sector look attractive from a valuation standpoint.