Gold Price Falls Below $4000, Mining Stocks Decline, Harmony Gold Drops 6%
On June 24, Newmont Corporation (NEM.US) saw its stock price decrease by 4.4%, Sibanye Stillwater fell by 6.1%, Angola Gold dropped by 7%, SPDR Gold ETF declined by 3%, Kinross Gold fell by 6.5%, and Harmony Gold decreased by 6%, while Gold Fields fell by 3.9%. In the news, international gold prices remain under pressure, with spot gold's decline expanding to 2.8%, falling below the $4000 per ounce mark for the first time since November 2025. This represents a drop of approximately $1600 (nearly 30%) from this year's historical high of $5596 per ounce, indicating a significant technical adjustment. Factors contributing to this trend include a strengthening U.S. dollar, rising expectations for Federal Reserve interest rate hikes, and increasing U.S. Treasury yields, all of which continue to suppress precious metals performance.
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