Movement Alert|Barrick Mining Corporation Falls 3.34% in Regular Trading, Fed Rate Hike Expectations Weigh on Gold Sector

Market Focus
Sep 14

On September 14, Barrick Mining Corporation fell 3.34% in regular trading, trading at $42.16/share, with turnover of $62.68 million. The broader gold mining sector came under significant selling pressure as rising U.S. interest rate expectations weighed on precious metals.

On the news front, Fed rate hike expectations continued to intensify, with the CME FedWatch tool showing a 71.3% probability of a cumulative 25-basis-point hike in September. The U.S. 30-year Treasury yield surged to a 19-year high, directly pressuring non-yielding assets such as gold and triggering broad-based declines across gold mining stocks. Within the Gold sector, Kinross fell 4.05%, Coeur Mining fell 3.79%, Wheaton Precious Metals fell 3.73%, Newmont Mining fell 3.35%, and Agnico Eagle Mines fell 2.96%.

Separately, Barrick is reportedly considering delaying the IPO of its North American gold business to next year. The company also recently completed a $1.95 billion settlement with Newmont over the Nevada Gold Mines dispute and signed an earn-in agreement for GFG Resources' Pen Gold Project in Ontario.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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