Mining Stocks Decline as Precious Metal Prices Drop
By Kelly Cloonan
Shares of mining companies fell as precious metal prices dropped, driven by rising inflation expectations and dimming hopes of global interest-rate cuts.
Newmont's stock slid 9.1% to $96.85 on Thursday. Shares of Agnico Eagle and Barrick Mining declined by 6.9% and 7.3%, respectively. Kinross Gold and Hecla Mining also fell.
The moves come as futures for gold, silver and copper have declined in recent sessions. On Thursday, gold tumbled below $4,600 a troy ounce, putting it on track for its sixth decline in seven sessions.
Investors' fears over inflation have grown recently as energy prices jump due to tensions in the Middle East.
Wall Street has also been paring back expectations for rate cuts. During a Wednesday news conference, Federal Reserve Chair Jerome Powell said little to suggest cuts were around the corner and instead emphasized how little room officials might have to ease, after the Fed held interest rates steady.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
March 19, 2026 10:20 ET (14:20 GMT)
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