New York, March 3, 2026, 14:51 (EST) — Regular session.
Newmont Corp (NEM) shares slid 8.8% to $117.35 on Tuesday as gold-linked stocks fell hard alongside bullion. The stock was down $11.38 on the day after touching a session low of $115.97.
Spot gold — the price for immediate delivery — was down 3.6% at $5,137 an ounce, while spot silver fell 6.6% to $83.50, after both climbed to more than four-week highs on Monday. Bob Haberkorn, senior market strategist at RJO Futures, said the drop looked like “a flight to liquidity – a flight to cash,” and he called the pullback likely to be short-lived. 1
The timing matters because investors have been treating gold as a haven, but Tuesday’s tape looked like a straight push for cash as the Middle East conflict jolted markets. “Oil, and the dollar, are the only two things that people want to own right now,” Michael Arone, chief investment strategist at State Street Investment Management, said. 2
Gold’s slide also read as profit-taking, not a clean turn against the metal. Robert Gottlieb, former head of precious metals at Koch Supply and Trading, said traders with gains were “taking the risk off the board,” while BullionVault research head Adrian Ash pointed to gold being sold to raise cash for equity margin calls. 3
A regulatory filing on Monday showed Newmont Executive Vice President Peter Toth had shares withheld at $124.85 and $127.47 to cover tax obligations tied to vested restricted stock units — a form of stock-based pay that vests over time. The filing listed his direct holdings at 56,823 shares after the transactions. 4
The sector move was broad. Agnico Eagle Mines fell about 7.9%, AngloGold Ashanti dropped about 11.6% and Kinross Gold was down about 8.8%.
Newmont’s leverage cuts both ways: a fast fall in bullion can hit sentiment quickly, while costs do not reset overnight. If the dollar stays firm and rate-cut hopes fade further, gold-linked equities can stay under pressure even if the underlying geopolitical story keeps changing.
Traders will stay glued to bullion, the dollar and any fresh headlines as the U.S. session runs into the close. Newmont said it will pay a quarterly dividend of $0.26 a share on March 26 to shareholders of record at the close of business on March 3. 5
