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

AI desk brief

PM Capital said Newmont detracted from performance after falling 14% over the quarter, matching a 14% drop in physical gold. The letter blamed stickier-than-expected US inflation, rising Fed hike expectations, a stronger dollar, and higher Treasury yields for reducing the appeal of gold as a non-yielding asset. Newmont closed Oct. 5 at $115.82 and was still up 15.99% YTD, but the note frames near-term gold and gold equities as vulnerable while real-rate and USD pressure persists.