Newmont Stock Dips As Lunar New Year Reduces Demand

Newmont Corp (NYSE:NEM) shares are under pressure Tuesday as Lunar New Year market closures across Asia coincide with investor caution ahead of Wednesday's Federal Reserve meeting minutes. Here's what you should know today.

• Newmont stock is facing resistance. Why is NEM stock retreating?

Pressure On Precious Metals

Gold slid below $4,900 an ounce on Tuesday as much of Asia — the world's biggest buyer of physical gold — remained shut for Lunar New Year celebrations. Spot prices dropped as much as 3%, hitting their lowest level in more than a week and extending Monday's decline. Silver saw an even sharper move, tumbling 5.4% at one point before recovering part of the loss.

The weakness follows an unusually volatile stretch for precious metals. Gold recently surged past $5,595 an ounce before collapsing toward $4,400 in just two days at the end of January.

Focus Turns To Fed Minutes

Traders are also keeping a cautious stance ahead of Wednesday's release of the Fed's January meeting minutes. Investors are looking for more insight into how policymakers are thinking as the central bank approaches a leadership handoff.

President Donald Trump has nominated former Fed Governor Kevin Warsh to succeed Chair Jerome Powell when his term ends in May. Markets don't anticipate a rate change until the June 16–17 meeting.

Fed officials, including Powell, have said they expect inflation to ease back toward 2% by mid‑year, though several policymakers — including Chicago Fed President Austan Goolsbee — want to see clearer evidence before acting.

The Fed's preferred inflation gauge, the PCE index, has hovered around 2.8% since May. December PCE data arrives Friday, and officials have signaled they aren't expecting much improvement.

Mixed Technical Setup

Newmont is currently facing some bearish pressure as it trades below key moving averages, indicating a potential weakness in its price action. Traders should be cautious as the stock has recently broken below support, which could signal further downside.

The RSI is currently neutral, suggesting that there isn’t any strong momentum pushing the stock either way at this moment. However, the recent entry into overbought territory on Jan. 12 could indicate that the stock may have reached a short-term peak.

MACD is below its signal line, indicating bearish pressure and suggesting that the momentum may not be in favor of buyers right now. Traders should look for signs of a reversal or further confirmation of a downtrend before making any moves.

Key support is at $108.00, while resistance is at $135.00. If Newmont Corporation’s stock tests the support level, a break below could lead to a more significant decline, while a move above resistance could signal a potential recovery.

The golden cross in April, when the 50-day SMA crossed above the 200-day SMA, indicated a bullish trend at that time.

Over the past 12 months, Newmont’s stock has seen a remarkable increase of 159.29%, reflecting a strong longer-term trend. This performance highlights the stock’s ability to recover from its 52-week low of $41.23, but the current positioning near the high of $134.88 raises questions about sustainability.

Currently, Newmont’s stock is positioned at 87.4% of its 52-week range, indicating that it is trading near its highs. This positioning suggests that while the stock has performed well, it may be vulnerable to pullbacks if it cannot maintain momentum.

NEM Price Action: Newmont shares were down 3.10% at $121.90 at the time of publication on Tuesday.

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