New York, March 3, 2026, 14:51 (EST) — Trading during the regular session.
Shares of Newmont Corp (NEM) dropped 8.8% to $117.35 on Tuesday, with gold-related names tumbling alongside the metal itself. The stock shed $11.38 after hitting a session low at $115.97.
Spot gold lost 3.6%, landing at $5,137 an ounce, while spot silver dropped 6.6% to $83.50. Both had touched their highest levels in over four weeks on Monday. Bob Haberkorn, senior market strategist at RJO Futures, called the selloff “a flight to liquidity – a flight to cash,” and suggested the downturn probably won’t last long. Reuters
The timing’s key here: even with gold holding its haven label, Tuesday’s session was all about investors dumping for cash after the Middle East flare-up rattled sentiment. “Oil, and the dollar, are the only two things that people want to own right now,” said Michael Arone, chief investment strategist at State Street Investment Management. Reuters
The drop in gold prices looked more like traders locking in profits than a wholesale exit. Robert Gottlieb, who previously led precious metals at Koch Supply and Trading, put it this way: “taking the risk off the board.” Meanwhile, Adrian Ash, head of research at BullionVault, noted that some were offloading gold to cover equity margin calls. Reuters
Newmont Executive Vice President Peter Toth had shares withheld at $124.85 and $127.47, according to a regulatory filing out Monday, to handle tax liabilities stemming from vested restricted stock units—these are shares that become available over time as compensation. After the moves, his direct holdings were reported at 56,823 shares.
Losses hit across the sector. Shares of Agnico Eagle Mines slid roughly 7.9%, Kinross Gold lost about 8.8%, while AngloGold Ashanti tumbled approximately 11.6%.
Newmont’s leverage swings in both directions. A sharp bullion drop can sour sentiment fast, but costs stick around. Should the dollar remain strong and optimism for rate cuts slips away, gold-linked stocks could keep feeling the pinch—even if the geopolitical backdrop keeps shifting.
Bullion, the dollar, and headline flashes are set to keep traders on edge heading into the U.S. close. Newmont plans a $0.26 per share quarterly dividend, payable March 26 to those holding shares at business close on March 3.
