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Gold trade unwind drives steep declines in top mining stocks
In New York, gold bullion futures fell 6.4% in September, from $4,441 an ounce at month end August to $4,158 at month end September.
Mining.com reports that the world’s 50 most valuable mining stocks were worth $2.26 trillion at the close of September, marking the second-largest monthly decline in the ranking’s history.
The outlet attributes the downturn to gold, after September erased three quarters of August’s record $357 billion gain.
Gold bullion futures in New York slid from $4,441 an ounce at the end of August to $4,158 at the end of September, a 6.4% retreat that left the metal below where it started the year, while silver fell 9% for the month and platinum group metals continued deeper into negative territory.
Mining.com also notes that copper and iron ore ended the month close to where they began, while lithium fell more than 5% in September, leaving only a small gain for 2026, as higher rates and a stronger US dollar pressured metals.
Latest closeGold $4,172.10 ▼0.7%|Silver $60.71 ▼0.0%|Copper $6.579 ▲1.5%