Movement Alert|Newmont Mining Falls 3.41% in Pre-Market Trading, Gold Mining Sector Retreats After Four-Day Rebound as Markets Brace for Nonfarm Payrolls

Market Focus
Sep 04

On September 4, Newmont Mining fell 3.41% in pre-market trading, at approximately $126.3 per share, with turnover of $3.978 million. The decline came as the gold mining sector collectively pulled back after a four-session rebound, with broad-based weakness across precious metals stocks.

The retreat was driven by renewed caution ahead of the U.S. nonfarm payrolls report due later in the session, with markets concerned that strong employment data could further reinforce the Federal Reserve's hawkish stance on rate hikes. Fed Chair Waller had previously signaled a hawkish tone at the Jackson Hole symposium, and the market-implied probability of a September rate hike remains elevated at 58% to 66%, pressuring gold prices and dragging down mining stocks. Within the Gold sector, weakness was widespread: Coeur Mining fell 4.34%, Kinross dropped 3.66%, Wheaton Precious Metals declined 3.52%, Agnico Eagle Mines lost 3.21%, and Barrick Mining slipped 2.97%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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