Gold miners fall as rising oil prices, Treasury yields weigh on bullion
GDX•Spot gold fell 0.5% to $4,267.83 an ounce, its lowest since September 16, as rising oil prices and a hawkish shift in Federal Reserve messaging strengthened expectations of higher interest rates. Gold miners also fell, with Newmont down 2.1% and Barrick Mining down 1.0%.
1. Gold and miners decline
Spot gold fell 0.5% to $4,267.83 an ounce, after hitting its lowest level since September 16. Rising oil prices and a hawkish shift in Federal Reserve messaging strengthened expectations of higher interest rates, while Newmont shares fell 2.1% and Barrick Mining shares declined 1.0%.
