Newmont Shares Slide as Gold Falls Below $4,060
Gold miner's stock dropped more than 3% on Tuesday as bullion prices fell and U.S. inflation data strengthened expectations for another Federal Reserve rate hike.
Updated on Nov. 10, 2026 in Inflation
Live Poll
Do you feel your household's cost of living is getting worse?
Newmont shares fell more than 3% on Tuesday as gold prices dropped below $4,060 an ounce. The decline followed October U.S. inflation data showing headline prices rising 0.4% month over month and core inflation rising 0.3% for a second straight month, both above forecasts.
Why it matters
Higher U.S. inflation tends to raise expectations for tighter monetary policy, which can weigh on non-yielding assets like gold and on gold-mining equities. Federal Reserve Governor Christopher Waller said a 50-basis-point hike should be considered in December if October core inflation was 0.3% or higher.
U.S. headline inflation rose 0.4% month over month in October, after 0.6% in September, while core inflation rose 0.3% against a 0.2% forecast. Money markets are pricing in around 28 basis points of tightening, and it remains unclear whether the Fed will move by 25 or 50 basis points.
The players
Newmont Corporation
A major gold mining company whose shares are closely tracked as a barometer of gold-price movements and investor sentiment toward the metal.
Christopher Waller
A Federal Reserve Governor who has publicly argued that a 50-basis-point rate hike should be considered in December if core inflation remains at or above 0.3%.
The details
Newmont was trading about 7.8% above its 200-day simple moving average of $112.36 and about 5.4% above its 20-day average of $114.85 at the time of reporting. The decline came as gold dropped below $4,060 an ounce, with the stock's relative strength index at 54.90.
Timeline
September 2026: The 50-day and 200-day moving averages for Newmont formed a golden cross.
October 2026: U.S. inflation data was reported for the month.
Tuesday, November 10, 2026: Newmont shares fell more than 3% as gold prices dropped.
December 9, 2026: The Federal Reserve meets, with a rate hike priced at around 99% probability.
Market Dynamics
The pressure on gold reflects the same mechanism seen during the Federal Reserve's 2022-2023 tightening cycle, when higher policy rates raised the opportunity cost of holding non-yielding bullion. Whether the current pricing of roughly 28 basis points of tightening marks a similar extended cycle remains to be seen.
Higher inflation and the prospect of further Fed tightening can raise borrowing costs on mortgages, car loans, and credit cards for households. Investors with gold exposure or mining equities may see continued volatility as rate expectations move.
The takeaway
Monitoring monthly inflation releases and Federal Reserve commentary can help readers anticipate shifts in borrowing costs and in markets sensitive to interest rates.
What happens next
The Federal Reserve's next policy meeting is scheduled for December 9, 2026, when the market-priced possibility of a rate hike will be tested against the October core inflation reading.
Further reading
For broader background on how price pressures are shaping central bank decisions, see Inflation.
Source note: This article includes information reported by Benzinga.
Live Poll
Do you feel your household's cost of living is getting worse?
