GOLD - Why Gold Miner Stocks Plunged Today on a Great day for the Markets
2025-04-23 16:43:00 ET
Shares of gold mining stocks Barrick Gold (NYSE: GOLD) , Newmont Mining (NYSE: NEM) , Gold Fields (NYSE: GFI) , and AngloGold Ashanti (NYSE: AU) were all down today, falling 4.6%, 2.6%, 6%, and 5.1%, respectively.
The declines were all the more notable as the broader market indexes were up strongly on the day. Yet the move wasn't surprising, as the price of gold fell 3.4% today.
Gold has generally been moving higher in recent months, and generally in the opposite direction of markets, due to the instability caused by the Trump administration's tariff policies. As angst over worst-case scenarios were partially soothed today due to President Trump appearing to walk back from the administration's maximalist positions last night, markets rallied and gold fell.