New York, Jan 30, 2026, 13:53 EST — Regular session
- Newmont shares dropped roughly 12% to $111.64, falling from an earlier high of $122.
- After hitting record highs, bullion took a sharp turn downward as traders cashed in profits and the dollar gained strength.
- Investors are eyeing gold’s next move and Newmont’s results on Feb. 19 for clues.
Newmont shares plunged on Friday, dragged down by a swift drop in gold that deflated a packed trade in precious-metals miners. The stock closed in on a 12% loss at $111.64, after starting the day at $118.35 and hitting a session low of $111.27.
Gold took a sharp hit. Spot gold plunged 8.9% to $4,915 an ounce, on pace for its largest single-day drop since 1983, following Donald Trump’s announcement that he would nominate Kevin Warsh to head the Federal Reserve. Silver fared worse, tumbling almost 22%. (Reuters)
The recent dip seemed driven by profit-taking—investors cashing out after a quick rally in a market with thin liquidity. Panmure Liberum’s Tom Price described Warsh as “rational,” suggesting traders were locking in gains. Ole Hansen from Saxo Bank labeled the jump “highly speculative.” Ross Norman didn’t mince words: “Precious metals have discovered gravity.” (Reuters)
Mining stocks took a hit in premarket, slipping further after the Fed-chair news. Newmont dropped 5.4%, while Barrick Mining fell 6.3%, MarketWatch reports. (MarketWatch)
As the session progressed, losses deepened among major miners. Agnico Eagle Mines Ltd slipped around 11.5%, Kinross Gold Corp. dropped about 12.8%, and Gold Fields Ltd tumbled nearly 16%.
The reason this matters now is straightforward: miner stocks often outpace the metal when prices shift. Since many of a miner’s expenses are fixed in the short term, profits can fluctuate more sharply than bullion prices — leverage that works both ways.
Traders are focused on the dollar and U.S. interest-rate expectations, since these factors can swiftly impact gold demand. The Reuters report pointed to “real yields” — inflation-adjusted rates — as a key reason behind the recent profit-taking.
Investors betting on miners as a clean hedge face some risk. Should bullion remain under pressure and the dollar continue to strengthen, the sector could endure further forced selling and downward revisions. But if gold stages a rebound, that momentum could flip sharply in the other direction.
Investors are marked for a closer look at Newmont’s numbers: the company plans to release its Q4 and full-year 2025 results after the market closes on Feb. 19. A conference call will follow at 5:30 p.m. EST. (Newmont)
