Newmont stock drops as gold pulls back from record, putting miners’ rally to the test
Newmont Corp shares dropped 4.2% to $126.35 Thursday afternoon, following a steep retreat in gold prices after the metal set a new record.
Newmont (NEM) stock drops nearly 4% as gold whipsaws from record highs — what to watch next
Newmont Corp shares dropped 3.8% Thursday, closing at $126.93 after fluctuating between $123.68 and $134.70. The stock showed little movement in after-hours trading. Volume hit roughly 15.1 million shares, while Royal Gold slipped 3.1%.
Gold price near $4,500 keeps GLD in focus as CPI week begins
SPDR Gold Shares, the gold-backed ETF, closed Friday at $414.47, gaining 0.7% after hitting an intraday peak of $415.29.
Gold price slips ahead of U.S. jobs data as Newmont stock and GLD track bullion
Spot gold fell 0.6% to $4,427.48 an ounce on Thursday, weighed down by a firmer dollar and positioning ahead of the Bloomberg Commodity Index’s annual rebalancing, a reshuffle that can force big funds to trade futures. “Over the next five days, COMEX futures could see selling in the region of $6 to $7 billion in each metal,” Ole Hansen, head of commodity strategy at Saxo Bank, said. Reuters
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