Movement Alert|Eldorado Falls 5.98% in Regular Trading, Fed Rate Hike Expectations Weigh on Gold Sector

Market Focus
Sep 29

On September 28, Eldorado fell 5.98% in regular trading, trading at $39.36/share, with turnover of approximately $54.90 million.

On the news front, multiple Federal Reserve officials recently issued hawkish signals, warning that inflation remains persistently elevated and that the current policy stance may be insufficient to bring prices back to the 2% target. According to CME data, the market-implied probability of a 25-basis-point rate hike at the October meeting has risen to approximately 70%, sharply pressuring gold prices and mining stocks. The U.S. September composite PMI preliminary reading climbed to 58.4, a multi-year high, while the 10-year Treasury yield breached 5%, further reinforcing the tightening narrative.

The broader gold sector saw widespread losses. Among peers, AngloGold Ashanti fell 6.09%, Coeur Mining fell 5.80%, Agnico Eagle Mines fell 4.92%, Newmont Mining fell 4.44%, and Barrick Mining fell 4.31%. Eldorado is scheduled to report Q3 earnings on October 28, with consensus EPS estimates at $0.69.

(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.)

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