Gold Mining Stocks Slip as Stronger Dollar and Higher Yields Hit Bullion

Gold mining stocks traded lower on Wednesday as gold prices slipped ahead of the Federal Reserve's interest rate decision. The stronger U.S. dollar and higher Treasury yields reduced demand for bullion, causing spot gold to fall by 0.5% to $4,007.61 per ounce.

The decline in gold prices weighed heavily on major gold miners, with Newmont falling 1.5% and Barrick Mining losing 2.7%. Canadian miners such as Agnico Eagle Mines declined 2.4% and Kinross Gold dropped 2.1%

South African miners also joined the selloff, with U.S.-listed shares of Gold Fields, AngloGold Ashanti, and Harmony Gold all posting losses during the session.