Why Are Newmont Shares Sliding On Thursday?

Core Insights - Newmont Corporation shares are experiencing a significant decline due to falling gold prices, which have reached nearly six-week lows [1] - The decline in gold prices is attributed to central bank policies and geopolitical tensions, particularly following missile strikes in the Middle East [2] Gold Price Dynamics - Gold prices dropped to approximately $4,710 per ounce, marking the seventh consecutive session of declines [2] - The Federal Reserve has maintained interest rates at 3.50%–3.75%, contributing to market volatility [2] Geopolitical Factors - Increased tensions in the Middle East, including Iranian missile strikes and Israeli attacks, have influenced market dynamics [2][3] - These geopolitical events typically support safe-haven demand but have also led to rising crude oil prices [3] Economic Indicators - The U.S. GDP growth rate was revised down to an annualized 0.7% for Q4 2025, a significant drop from the initial estimate of 1.4% [4] - Core PCE inflation rose to 3.1% in January, with BlackRock highlighting a "visible global macro shock" from the Middle East [4] Technical Analysis of Newmont - Newmont shares are trading 17.1% below their 20-day simple moving average (SMA) and 5.9% below their 100-day SMA, indicating a pullback phase [5] - Over the past 12 months, shares have increased by 122.00% and are closer to their 52-week highs than lows [5] - The Relative Strength Index (RSI) is at 35.69, indicating neutral territory, while the MACD is at -2.5788 [5] Stock Price Activity - Newmont shares were down 6.65% at $99.46 during premarket trading [6] - Key resistance level is identified at $106.50, while key support is at $97.50 [6]