NEW YORK, December 29, 2025, 14:25 ET — Regular session
- Newmont shares slid about 6% as bullion pulled back sharply from record highs.
- Gold and silver fell hard as traders booked profits, with thinner holiday liquidity amplifying moves.
- CME raised margin requirements — the cash collateral needed to hold futures — effective after Monday’s close.
Shares of Newmont (NEM) fell 5.7% to $99.70 in afternoon trading, leading declines in major gold miners as gold prices slid more than 4% from record highs and traders unwound positions.
The move matters because gold’s year-end surge has been one of 2025’s standout trades, pulling miners and precious-metals funds higher with it. A sharp reversal can force fast selling in a market that is already thin after the holidays.
It also lands just as exchanges raise collateral demands, a common volatility brake that can push leveraged traders to cut exposure quickly.
Spot gold — the price for immediate delivery — fell 4.2% to $4,340.52 an ounce by 12:00 p.m. ET after hitting a record $4,549.71 on Friday, while U.S. gold futures for February dropped 4.3% to $4,358.60. “We are seeing profit-taking pullbacks off of those spectacularly high levels,” said David Meger, director of metals trading at High Ridge Futures. Reuters
CME Clearing raised performance bond requirements — margin rules that set how much cash traders must post to hold futures positions — effective after the close on Monday, a clearing advisory showed. The initial and maintenance margin on benchmark COMEX gold futures (GC) rose to $22,000 from $20,000, while COMEX silver futures (SI) increased to $25,000 from $22,000, according to the notice. CME Group
Other miners also fell. Agnico Eagle Mines (AEM) slid 6.5% to $171.32, AngloGold Ashanti (AU) dropped 7.4% to $84.54, and Gold Fields (GFI) fell 7.1% to $43.25.
Gold-linked funds tracked the drop in bullion. SPDR Gold Shares (GLD), a widely traded exchange-traded fund that holds physical gold, was down 4.5% at $398.04.
Macro backdrops remained supportive for gold earlier in the rally — a softer dollar and easing yield pressure as traders priced more Federal Reserve rate cuts next year — but the combination of year-end positioning and holiday-thinned markets has made swings more violent. Reuters
Newmont did not announce company-specific news on Monday, and the stock’s move tracked bullion. Gold miners often amplify moves in the metal because small changes in realized prices can translate into larger shifts in cash flow.
Traders will watch whether gold stabilizes around the $4,300 level after Monday’s selloff and as higher margin requirements take effect after the close. Another focus is whether the recent spike in volatility triggers more position trimming into year-end.
Investors are also looking ahead to Fed minutes due this week and fresh moves in Treasury yields and the dollar for clues on how long the precious-metals rally’s underlying supports stay in place. Reuters
