24/7 Wall Street
24 Oct 2026, 12:27 UTC · 1h ago
Gold Just Fell Below $4,000 After Its Worst Week in Five Months
Impact · against what's priced in
The breach of the $4,000 gold level and rising Treasury yields create immediate downward pressure on Newmont, as the market was already refusing to value the stock based on high bullion prices. GLD and SLV face similar headwinds from increased opportunity costs and margin-call liquidation.
- NEM−0.40
Challenges what's priced in
- The price assumes
A sustained gold price environment that avoids a return to the January 2026 all-time high of $5,608.35 per ounce.
While the price assumed gold would simply not return to $5,600, the current drop below $4,000—a 29% decline from the peak—undermines the basic stability of the revenue base. Furthermore, Brent crude above $117 triggers the specific risk the market feared: margin compression from oil prices above $95 per barrel.
What NEM's price assumes · Sep 11
