Newmont Corporation (NYSE:NEM) shares are trading lower Friday morning as the world’s largest gold miner faced pressure from shifting economic data.
GDP Growth Revisions Weigh
U.S. economic growth slowed sharply at the end of 2025. Gross domestic product expanded at an annualized rate of 0.7% in the fourth quarter. The Bureau of Economic Analysis significantly revised this down from an initial 1.4% estimate. This marks a sharp deceleration from the 4.4% growth pace recorded in the third quarter.
Mixed Inflation Data Signals
Separate data showed mixed inflation readings for the new year. The Personal Consumption Expenditures (PCE) price index rose 2.8% year over year in January. However, Core PCE climbed to 3.1%.
Gold Prices And Geopolitics
Gold has declined as investors weigh persistent geopolitical tensions in the Middle East against signs of cooling economic growth. Meanwhile, rising crude oil prices continue to stoke inflation concerns.
Gold prices traded at $5,083 per ounce on Friday, down 6.20% from the Jan. 28 peak of $5,419, according to data from Trading Economics.
The metal is also down 4.49% since March 2, following the start of U.S. and Israel strikes on Iran on Feb. 28.
Technical Analysis
Newmont is trading 8.6% below its 20-day Simple Moving Average (SMA), but it’s still 7% above its 100-day SMA, a mix that often shows short-term pressure inside a longer-term uptrend.
Shares are up 143.94% over the past 12 months and, within the $42.91 to $134.88 52-week range, the stock is positioned closer to its highs than its lows.
- Key Resistance: $127.50
- Key Support: $108.00
NEM Price Action: Newmont shares were down 3.48% at $110.50 at the time of publication on Friday, according to Benzinga Pro data.
Photo Courtesy: Rneaw on Shutterstock.com
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