Stock Track | Harmony Gold Mining Plummets 9.14% Intraday as Gold Prices Fall on Hawkish Fed Bets

Stock Track
Mar 18

Harmony Gold Mining's stock plummeted 9.14% during intraday trading on Wednesday, as the gold mining sector faced significant pressure.

The decline comes as spot gold prices fell 2.1% to their lowest level since mid-February, with investors weighing the risk of a more hawkish U.S. Federal Reserve policy stance. High oil prices are fueling concerns about inflation, which in turn pressures gold prices and negatively impacts gold mining companies.

This sector-wide move saw other major gold miners including Newmont, Barrick Mining, Gold Fields, and AngloGold Ashanti also experiencing significant declines during the trading session.

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