Gold Mining Stocks Tumble as Treasury Yields Surge

Gold mining stocks took a hit on Tuesday as spot gold prices declined due to rising Treasury yields and inflation concerns.

Spot gold dropped 1% to $4,369.82 per ounce, with Treasury yields reaching their highest levels in decades amid escalating U.S.-Iran tensions.

Barrick Mining (TSX:ABX) fell 1.1%, while Newmont (NYSE:NEM) declined by a more significant 2.8%.

South African gold miners, including Gold Fields (NYSE:GFI), AngloGold Ashanti (NYSE:AU), and Harmony Gold (NYSE:HMY), also moved lower, with prices decreasing by approximately 1%, 1.15%, and 2.8%, respectively.