Gold price falls below $4,000, precious metal mining stocks plummet.

As the price of gold fell below $4,000 per ounce for the first time since November 2025, London mining stocks plummeted. Market expectations of a rate hike by the Federal Reserve weighed on this non-yielding yellow metal, while a stronger US dollar also pressured gold prices as it increased the purchasing cost for foreign buyers. Silver prices also fell significantly, dragging down mining stocks. New York gold futures dropped 4% to $3,984.40 per ounce, while silver futures fell 5.9% to $58.38 per ounce. Hochschild, listed in London, saw its stock price worsen throughout the trading day, dropping over 9% in post-market trading, touching a six-month low. Silver miner Fresnillo dropped 5.1%, while Endeavour Mining, which specializes in mining gold in West Africa, plummeted 5.25%.