New York, February 2, 2026, 12:53 PM EST — Regular session
- Newmont shares slipped 0.5% to $111.77, fluctuating earlier between $106.25 and $116.28.
- Gold dropped roughly 5% as the precious metals selloff extended into a second day.
- CME will implement margin changes for metals futures after Monday’s close; Newmont is set to report earnings on Feb. 19.
Shares of Newmont Corp dipped Monday, dragged down by another drop in gold prices as traders debated if the sharp decline in the metal still has room to fall.
The stock slipped 0.5% to $111.77 by midday, retreating after an initial rebound and following the latest drop in bullion prices.
This shift is crucial since gold miners now act as a high-volatility stand-in for macro bets: when leveraged positions unwind, these stocks often swing more sharply than the underlying gold itself.
The week kicks off amid expectations for a flood of headlines, where policy cues and shifts in margins will steer risk appetite, overshadowing individual mine updates.
Spot gold fell 5.2% to $4,613.99 an ounce by late morning in New York, after plunging almost 10% earlier in the session, Reuters reported.
CME Group’s hike in margin requirements — the cash traders need to lock in futures positions — is fueling forced selling and trimming of positions, strategists said. “The scale of the unwind unfolding in gold today is something I haven’t witnessed since the dark days of the 2008 global financial crisis,” IG market analyst Tony Sycamore noted. Reuters
Spillover effects hit bullion-linked assets hard. SPDR Gold Shares (GLD) dropped 3.6%, and the VanEck Gold Miners ETF (GDX) slid roughly 1.1% during the U.S. trading session.
Some desks are already betting on the flip side. JP Morgan forecasts gold climbing to $6,300 an ounce by the end of 2026, fueled by strong demand from central banks and investors—despite last week’s steep fall from record highs.
Investors are turning their focus from gold prices to Newmont’s own numbers. The miner is set to release its full-year and fourth-quarter results after U.S. markets close on Feb. 19, followed by a conference call at 5:30 p.m. EST.
The risks are clear. If gold continues to slide, or if the dollar’s strength and tighter lending conditions cut speculative demand more, miners could stay under pressure — even without new company updates.
Traders are now focused on how metals close following CME’s margin adjustments late Monday. Attention also turns to Newmont’s Feb. 19 report, which could shed light on costs and production forecasts through 2026.
