NEW YORK, December 29, 2025, 15:18 ET — Regular session
AngloGold Ashanti Plc shares slid 7.1% to $84.76 in afternoon trading, tracking a sharp reversal in precious metals that knocked gold miners lower. The stock touched $83.81 at the session low after peaking at $89.55 earlier in the day.
The selling followed a broad pullback in gold and silver after CME Group raised margin requirements for precious-metals futures. A margin requirement is the cash collateral traders must post to hold leveraged positions, and higher margins can force investors to cut exposure.
That matters now because year-end trading is thin and leveraged flows can push prices around quickly. Gold miners often move more than bullion because small changes in metal prices can translate into bigger swings in cash margins.
The VanEck Gold Miners ETF fell about 6%, while peers Newmont and Gold Fields were down roughly 5.6% and 6.9%, respectively. The SPDR Gold Shares fund, an exchange-traded fund that tracks bullion, dropped about 4.2%, while the iShares Silver Trust slid about 7.6%.
Spot gold fell 4.5% to $4,330.79 an ounce by 1:51 p.m. ET after hitting a record $4,549.71 on Friday, while silver shed 9.5% after touching an all-time high of $83.62 earlier on Monday, Reuters data showed. “We are seeing profit-taking pullbacks off of those spectacularly high levels,” said David Meger, director of metals trading at High Ridge Futures. Reuters
Daniel Ghali, a commodity strategist at TD Securities, said holiday-thinned trading and liquidity constraints — how easily investors can buy or sell without moving prices — helped amplify the drop.
The margin-driven unwind comes after an outsized run in metals, leaving positioning vulnerable to a forced reset when the cost of holding futures bets rises. Traders who finance positions with borrowed money can be pushed to sell when required collateral increases.
For AngloGold, attention now shifts to whether bullion steadies into the end of the year and to its next major catalyst: the company’s year-end 2025 earnings release, scheduled for Feb. 19, 2026, according to its events calendar.
AngloGold Ashanti is a global gold miner with operations and projects across Africa, the Americas and Australia, making its shares highly sensitive to moves in bullion prices.
When the company reports, investors typically focus on production volumes and cost metrics such as all-in sustaining costs, an industry measure of what it takes to keep mines operating, as well as any commentary on cash returns to shareholders.
Monday’s drop underscores how quickly momentum trades can unwind when liquidity is thin. If bullion remains under pressure, miners could stay volatile even without fresh company developments.
