Gold Price Volatility Drives Short-Term Pressure on Newmont Corporation (NEM) - Yahoo! Finance Canada

AI desk brief

Newmont fell 14% over the quarter, broadly tracking a 14% drop in the physical gold price, as stickier U.S. inflation pushed markets toward further Fed hikes and lifted the U.S. dollar and Treasury yields. PM Capital says the higher real-rate backdrop reduced gold’s appeal as a non-yielding asset and weighed on NEM shares.

The stock closed at $115.82 on Oct. 5 with a $122.04bn market cap, up 15.99% YTD and trading in a $76.05-$135.29 52-week range. The letter also flagged geopolitical tensions as an added source of volatility, but the main near-term driver cited was the rates/USD impulse.