Newmont Corporation ( NEM ) shares are trading significantly lower on Thursday morning.

The retreat follows a decline in gold prices, which hit nearly six-week lows, according to Trading Economics. Investors are reacting to a combination of central bank policy and shifting geopolitical dynamics.

Federal Reserve Stance And Geopolitical Tensions

Gold dropped to approximately $4,710 per ounce on Thursday. This marks the seventh consecutive session of declines for the precious metal.

The Federal Reserve recently opted to keep interest rates unchanged at 3.50%–3.75%.

Market volatility increased following Iranian missile strikes on a Qatari site housing a massive LNG facility. This followed an earlier Israeli attack on Iran's South Pars gas field.

While these events typically support safe-haven demand, they have also pushed crude oil prices higher.

Economic Revisions And Inflationary Pressures

The mining sector is also grappling with revised economic data. U.S. GDP growth slowed to an annualized rate of 0.7% in the fourth quarter of 2025.

This was a significant downward revision from the initial 1.4% estimate.

Additionally, Core PCE inflation climbed to 3.1% in January. BlackRock noted a "visible global macro shock" stemming from the Middle East.

They warned that persistent oil prices could drag on global growth while boosting inflation.

Technical Analysis

Newmont ( NEM ) is trading 17.1% below its 20-day simple moving average (SMA) and 5.9% below its 100-day SMA, which shows the stock is in a pullback phase even as the bigger-picture uptrend has not fully broken down.

Shares are up 122.00% over the past 12 months and are currently positioned closer to their 52-week highs than lows.

The RSI is at 35.69, which sits in neutral territory. MACD is at -2.5788 versus a signal line of -0.8041.

Key Resistance: $106.50

Key Support: $97.50

NEM Stock Price Activity: Newmont ( NEM ) shares were down 6.65% at $99.46 during premarket trading on Thursday, according to Benzinga Pro data.

Image via Shutterstock