On September 28, VanEck Gold Miners ETF fell 5.37% in regular trading, trading at $88.15/share, with turnover of $238 million. The decline came as spot gold tumbled over 3%, breaking below the key $4,200 level to around $4,190.

On the news front, Fed officials continued to deliver hawkish signals, fueling expectations for an October rate hike. The combination of rising rate expectations and a strengthening U.S. dollar created dual headwinds for gold prices. The sharp pullback in gold triggered broad-based weakness across global gold mining stocks. Among U.S.-listed miners, Newmont fell 3.4%, Sibanye Stillwater dropped 5%, and Harmony Gold declined 6%, while Fresnillo and Endeavour each fell approximately 5%. Hong Kong-listed gold stocks also suffered heavy losses, with Shandong Gold down 8.9%, Lingbao Gold down 8.87%, and Zhaojin Mining down 5.51%. Analysts cautioned that if the Fed delivers a larger-than-expected rate hike before year-end and signals a higher terminal rate, gold prices could face further downside risk.

The fund normally invests at least 80% of its total assets in common stocks and depositary receipts of companies involved in the gold mining industry. The index is a modified market-capitalization weighted index primarily comprised of publicly traded companies involved in the mining for gold and silver. The fund is non-diversified.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)