Stock Track | Harmony Gold Mining Plunges 6.36% in Pre-market as Gold Prices Fall on Hawkish Fed Bets
Stock Track
Mar 18
Harmony Gold Mining's stock experienced a pre-market plunge of 6.36% on Wednesday, tracking a broader decline in the gold mining sector.
The decline in Harmony Gold Mining and other gold miners comes as spot gold prices fell 2.1% to their lowest level since mid-February. Investors are weighing the risk of a more hawkish U.S. Federal Reserve policy stance, with high oil prices fueling concerns about inflation, which pressures gold prices.
Other major gold miners including Newmont, Barrick Mining, Gold Fields, and AngloGold Ashanti also saw significant pre-market declines ranging from 2% to over 6%, indicating a sector-wide move driven by the drop in bullion prices.
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