Newmont Corp's stock plummeted 6.87% intraday on Thursday, as the gold mining sector faced pressure from declining precious metal prices.
The spot gold price fell 1.6% to $4,383.35 per ounce, hitting a two-month low, which dragged down major gold mining stocks. Comex gold futures also retreated around 1.5%.
Other gold miners like Evolution Mining and Northern Star Resources also tumbled more than 5% in the session, reflecting broad sector weakness due to the drop in gold prices.
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