Newmont Shares Fall 4.0% Amid Gold Price Weakening and Rate Worries

Newmont Corporation shares fell by 4.0% on September 23rd as gold prices weakened and interest rate concerns weighed on miners.

The drop in Newmont's stock price is likely due to a decline in gold prices, which tends to negatively impact large gold mining companies like Newmont.

Spot gold fell on the same day as the U.S. dollar strengthened and hawkish Federal Reserve commentary pushed up expectations for tighter monetary policy.

Newmont's earnings and cash flow are closely tied to bullion prices, making it susceptible to fluctuations in the gold market.