Newmont Earnings Disappointment Highlights Cost Concerns for Gold Miners

Thursday, 24 October 2024, 17:35

Newmont's earnings disappointment has cast a shadow on gold miners, raising cost concerns across the sector. Following this news, the VanEck Gold Miners ETF fell by 2.6%, closing at $42.13. Investors are now wary as the ETF recently hit a 52-week high of $44.22, revealing potential volatility ahead.
Seekingalpha
Newmont Earnings Disappointment Highlights Cost Concerns for Gold Miners

Market Reaction to Newmont's Earnings

Newmont's earnings have disappointed investors, prompting worries about rising costs in the gold mining sector. The VanEck Gold Miners ETF (NYSEARCA: GDX) saw a decline of 2.6% during the trading session, ultimately closing at $42.13. This shift in the market comes as the ETF previously reached a 52-week peak of $44.22 earlier this week.

Implications for Investors

With concerns escalating over operational costs, investors should be cautious. Potential volatility in the sector may affect investment opportunities in gold miners significantly. Close monitoring of future earnings reports and market trends is advisable to navigate these turbulent waters.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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