Newmont Corp Chess Depository Interest

NEM: XASX (AUS)

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Gold Miners: We Update Our Near-Term Price Assumptions as Gold Enters a Bear Market

Jon Mills

Jul 7, 2026

The gold price continues to fall. At around USD 4,200 per ounce now, it is down 13% since we last updated our assumed prices. ETF outflows have accelerated, consistent with their tendency to be procyclical and the marginal buyers or sellers. Solid central bank buying partially offsets this.

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Newmont Corp Chess Depository Interest

Gold Miners: We Update Our Near-Term Price Assumptions as Gold Enters a Bear Market

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