GDX is trading at $95.53 (-3.03%) after hawkish Fed Chair Kevin Warsh remarks increased September rate-hike expectations, lifting Treasury yields and pressuring non-yielding gold.
- Spot gold fell 0.3% overnight to approximately $4,437.10, weakening gold-miner revenue expectations.
- Middle East tensions and Japan’s rising bond yields added to broader risk-off pressure.
- U.S. equities also declined, but the gold-miner selloff was primarily driven by rates and bullion weakness.