NEW YORK, December 29, 2025, 10:25 ET — Regular session
- Barrick Mining shares fell about 6% in morning trade as bullion pulled back from record highs.
- Spot gold slipped 1.7% after hitting a fresh all-time high on Friday, with traders citing year-end profit-taking.
- Newmont and Agnico Eagle also sank as the gold-miner group tracked the drop in the underlying metal.
Barrick Mining shares slid about 6% on Monday as gold prices retreated from record highs and investors locked in profits into year-end.
The move matters because gold’s 2025 rally has been steep, leaving miners exposed to sharp swings when traders unwind positions. Gold is often treated as a safe-haven — an asset investors buy when they want shelter from economic or geopolitical stress — and that demand can fade quickly when risks appear to ease.
Investors are also looking ahead to the Federal Reserve’s December meeting minutes, due Tuesday, for clues on how quickly U.S. interest rates may fall in 2026. Lower rates typically support gold because it is “non-yielding,” meaning it does not pay interest. Reuters
Spot gold was down 1.7% at $4,455.35 an ounce by 1321 GMT after hitting a record $4,549.71 on Friday, while U.S. gold futures for February delivery fell 1.7% to $4,474.80, Reuters reported.
“This morning’s (gold) price decline, which follows record highs, is attributable mainly to traders taking profits ahead of the year-end,” said ActivTrades analyst Ricardo Evangelista. Reuters
A perception of reduced geopolitical risk also weighed on demand for bullion, after Trump said on Sunday that progress toward an agreement to end the war in Ukraine was “very close,” Reuters reported. Reuters
Barrick was at $43.55 in early New York trading, down from a prior close of $46.21, according to Google Finance.
The selling swept across the sector. Newmont fell about 6.9% and Agnico Eagle dropped about 7.2% in morning trade.
Gold miners tend to move more than the metal because their profits can rise or fall faster than gold itself as prices shift, particularly when costs are relatively fixed. That “operational leverage” can amplify gains on the way up and deepen losses when bullion pulls back. Reuters
Bullion has risen about 72% in 2025 on softer U.S. monetary policy, dollar weakness, geopolitical friction and robust central bank purchases, Reuters said, setting up a crowded trade into the final week of the year.
UBS analysts warned that downside risks could emerge if the Fed surprises markets with a more hawkish tilt — meaning a preference for tighter policy — or if large outflows hit gold ETFs, which are exchange-traded funds that hold bullion and trade like stocks.
Company-specific news was thin on Monday, leaving Barrick to trade mostly as a high-beta proxy for gold. The miner reported third-quarter results in November and raised its dividend while expanding a share buyback program, helped by higher realized gold prices.
Investors are also watching Barrick’s strategic moves. The company said earlier this month it was evaluating an initial public offering of a subsidiary holding its North American gold assets, and said it would update the market on progress at its full-year 2025 results in February 2026.
