⛏ Why Gold Miners Fall Even After Record Profits

Somebody Is Buying Gold and Supporting the Market!
There's plenty of selling in the gold market right now. Rising yields and expectations of further Federal Reserve rate hikes have put significant pressure on gold, driving the price down to around $4,000 per ounce. However, despite sustained headwinds over the last several months, the yellow metal has held that $4,000 support. That means somebody is buying gold. Who? Read on »

Why Gold Miners Fall Even After Record Profits
Newmont, the world's largest gold miner, reported record third-quarter adjusted net income on Thursday. On Friday, its shares fell 4.6%, more than twice as much as the GDX. Over the whole week, the GDXJ, the ETF for junior mining stocks, fell 9.6%, while gold fell 4.1%. A record quarter wasn’t enough to lift the largest miner, and the reason matters to anyone who owns or follows mining stocks. Read on »

Shell Profits Nearly Double to $10.8 Billion as Refining Margins Hit Record
Record refining margins and higher LNG and gas prices boosted Shell’s third-quarter earnings to over $10.8 billion, nearly double compared to the same period last year, as the Middle East crisis squeezed fuel supplies and hiked oil and gas prices. Shell on Thursday reported adjusted earnings of $10.814 billion for the third quarter, the highest since 2022, almost double the $5.432 billion earnings a year ago. Read on »