According to CoinMeta, "currency devaluation trades" have seen a resurgence recently. Gold mining stocks have almost seen a vertical rise over the past month, achieving the best performance since 1994, with increases more than three times that of spot gold. Despite the sharp fluctuations in the market at the end of August after Federal Reserve Chairman Powell promised to curb inflation, the NYSE ARCA Gold Mining Stocks Index still rose by 33%. Vaneck Gold Mining ETF ( GDX ) recorded the highest monthly capital inflows since February, while the price of gold only rose by 10% in August. The U.S. Treasury Department is trying to lower long-term borrowing costs, prompting investors to flock back to gold and related assets. Since costs are relatively fixed, mining companies are able to amplify the profits brought about by rising gold prices, and therefore are seen as leveraged tools for betting on further increases in precious metals.