Cellectar Biosciences (CLRB), Juno Therapeutics (JUNO), Newmont Mining (NEM) and More: What is Going on With These Falling Stocks?

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Goldcorp Inc. (USA) (NYSE:GG)Barrick Gold Corporation (USA) (NYSE:ABX), and Newmont Mining Corp (NYSE:NEM) are each in the red by more than 5% after gold futures sliced through the key $1,200-per-ounce level to trade close to $1,183 per ounce, or down by 2.3% for the day. Given that Donald Trump has proposed a series of inflationary policies in the short-term such as increasing infrastructure spending and cutting taxes, the prospects for a Federal Reserve interest rate hike have increased. Given that Treasuries compete for gold as a safe haven, rising Treasury yields have reduced demand for gold. In addition, given Trump’s America-first policy, there is the potential for less conflict around the world, particularly with Russia.

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38 funds in our database were long Newmont Mining Corp (NYSE:NEM) on September 30, down by one quarter-over-quarter. Meanwhile, 45 were shareholders of Barrick Gold Corporation (USA) (NYSE:ABX), with 24 being long Goldcorp Inc. (USA) (NYSE:GG).

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Disclosure: None

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