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Mining stocks fell in September as gold retreated and rates rose
The Mining.com ranking shows the 50 biggest mining stocks dropped to $2.26 trillion by September end, a second-largest monthly decline on record.
Mining.com reports 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 history of its ranking.
The outlet links the pullback to falling gold prices and a tougher macro backdrop. New York gold bullion futures slid from $4,441 an ounce at the end of August to $4,158 at the end of September, a 6.4% decline that left gold below where it started the year, as the Federal Reserve raised rates for the first time since 2023 on September 16.
According to Mining.com, silver fell 9% for the month, platinum group metals sank further into negative territory, and lithium reversed course, losing more than a fifth in September alone and leaving only a small gain for 2026.
The article says copper and iron ore, two of the key metals for the ranking’s top holdings, finished September at levels close to where they began.
Latest closeGold $4,172.10 ▼0.7%|Silver $60.71 ▼0.0%|Copper $6.579 ▲1.5%