The stocks of leading gold miners are falling as the price of the precious metal erodes.
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Shares of leading producers such as Newmont (NEM), Barrick (B), and Agnico Eagle Mines (AEM) are down about 2% on April 2 as the price of gold slides lower with no end to the Iran war on the horizon. Gold’s price is down 4% and trading at $4,615.00 per ounce after U.S. President Donald Trump said America will continue the Iran for several more weeks, and possibly longer.
Gold is also plunging as the price of Brent crude oil surges as much as 10% to trade back near $110 per barrel. The latest decline for gold comes after the global metals market endured an 11% decrease in March, its worst monthly performance since the 2008 financial crisis.
Inflation Risks Are Rising
While gold typically serves as a safe haven asset in times of geopolitical turmoil, that has not been the case lately. Analysts say that gold is falling on fears of a resurgence in inflation that could prompt central banks to raise interest rates.
Higher interest rates tend to curb gold’s attractiveness by increasing the opportunity cost of holding the non‑yielding assets. The current decline is a big reversal from 2025, when gold’s price rose more than 60%. Many gold miners such as Newmont and Barrick saw their share prices surge last year as well.
Is B Stock a Buy?
Barrick Mining’s stock has a consensus Strong Buy rating among 15 Wall Street analysts. That rating is based on 13 Buy and two Hold recommendations issued in the last three months. The average B price target of $59.67 implies 53% upside from current levels.
