Shares of precious metals stocks are trading lower amid a drop in gold futures.
Portfolio Pulse from Benzinga Newsdesk
Shares of precious metals stocks are trading lower due to a drop in gold futures.
September 27, 2023 | 7:46 pm
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NEGATIVE IMPACT
Gold Fields Limited (GFI) shares are trading lower due to a drop in gold futures.
As a company involved in gold mining, Gold Fields Limited's stock price is directly affected by the price of gold. The drop in gold futures indicates a potential decrease in the price of gold, which negatively impacts GFI's profitability and thus its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Barrick Gold Corporation (GOLD) shares are trading lower due to a drop in gold futures.
As a company involved in gold mining, Barrick Gold Corporation's stock price is directly affected by the price of gold. The drop in gold futures indicates a potential decrease in the price of gold, which negatively impacts GOLD's profitability and thus its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Harmony Gold Mining Company Limited (HMY) shares are trading lower due to a drop in gold futures.
As a company involved in gold mining, Harmony Gold Mining Company Limited's stock price is directly affected by the price of gold. The drop in gold futures indicates a potential decrease in the price of gold, which negatively impacts HMY's profitability and thus its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Newmont Corporation (NEM) shares are trading lower due to a drop in gold futures.
As a company involved in gold mining, Newmont Corporation's stock price is directly affected by the price of gold. The drop in gold futures indicates a potential decrease in the price of gold, which negatively impacts NEM's profitability and thus its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100