NEW YORK, December 30, 2025, 00:36 ET — Market closed
Kinross Gold Corp (NYSE: KGC) shares fell about 5% in Monday’s session, last trading at $28.21, as a sharp pullback in precious metals hit gold miners into year-end. The stock was down $1.49 from its prior close and traded between $27.56 and $29.28; Newmont, the largest U.S.-listed gold miner, slid 5.6%.
The move matters now because gold miners have been one of the cleanest “rate-cut and safe-haven” trades of 2025, and late-December positioning can amplify swings. When the metal price turns, miners often move more than bullion because their cash flows are effectively geared to the underlying commodity.
Gold and silver prices sank on Monday after touching record highs, with spot gold down 4.5% at $4,330.79 an ounce and silver down 9.5% at $71.66, Reuters reported. “We are seeing profit-taking pullbacks off of those spectacularly high levels,” said David Meger, director of metals trading at High Ridge Futures, while TD Securities commodity strategist Daniel Ghali pointed to holiday-thinned liquidity — a market with fewer buyers and sellers — as a factor that can worsen drops. 1
The Chicago Mercantile Exchange raised margin requirements for gold and silver futures in a notice posted Friday, the Associated Press reported. Futures are contracts that lock in a price for later delivery, and margin is the cash traders must post to hold those positions; higher margin can force faster position cuts when prices swing. 2
Kinross is headquartered in Toronto and describes itself as a senior gold miner with mines and projects spanning the United States, Canada, Brazil, Chile and Mauritania. 3
That footprint leaves the shares highly sensitive to changes in bullion prices and market risk appetite, even on days when there is no company-specific news. In fast commodity pullbacks, traders often sell miners first and sort out fundamentals later.
A key macro test comes later Tuesday, when the Federal Reserve is scheduled to release minutes from its December 9–10 policy meeting at 2:00 p.m. ET. Investors watch the minutes for clues on the path of interest rates, which can swing the dollar and bond yields and, in turn, sentiment toward non-yielding assets like gold. 4
On the corporate calendar, Kinross lists a series of upcoming investor conferences in January and February where executives may provide operational color that can move the stock at the margin, including events hosted by CIBC, TD Cowen and BMO. 5
Before the next session, traders will be watching whether bullion stabilizes after the margin change and year-end profit-taking, or whether volatility carries into the new year.
For chart-focused investors, Monday’s selloff set clear near-term reference points: the session low as a support marker and the upper end of the day’s range as the first hurdle if buyers return.
Kinross holders will also be watching for any update on production costs and capital returns when the company next addresses the market, since miner performance often hinges on whether higher gold prices translate into stronger margins.
Until then, the stock is likely to trade as a high-beta proxy for gold, with macro headlines and liquidity — not company headlines — setting the tone day to day.
