DB Gold Double Short ETN (DZZ)

U.S. inflation jumped in March, surpassing expectations primarily due to higher petrol and shelter costs, dashing hopes of a June interest rate cut by the Fed.

These were last week's top performing leveraged and inverse ETFs. Note that because of leverage, these kinds of funds can move quickly.

While the debt-ceiling impasse, bets on Fed rate hike pause and recession fears are driving gold higher, a stronger dollar and rise in yields are weighing on the yellow metal.

Water ETF and double short gold ETN traded with an outsized volume on yesterday.

Gold prices are under pressure on rising greenback and Fed rate hike worries.

Gold prices dropped for a sixth straight session to touch their lowest in more than three weeks due to a rising dollar.

Gold prices lost 3.3% in the past five days (as of Apr 27, 2022) and 3.5%past month on faster-than-expected Fed rate hike speculation.

So far this year, the gold bullion ETF has lost 1.3% against 10.7% gains in the S&P 500.

Gold dropped to the lowest level in more than two months with many analysts expecting the price to decline further in the near term.

The big gold-ETF buying that catapulted gold higher into early August has gone missing in action since then.