Barrick Mining Corporation (B) saw its stock plummet 5.21% in pre-market trading on Monday, as gold miners faced pressure from falling bullion prices and uncertainty surrounding potential tariffs on gold bars.

The steep decline comes as spot gold prices dropped 1.1% to $3,362.21 per ounce, retreating from Friday's peak, which was the highest level since July 23. Investors are anxiously awaiting clarity from the White House regarding potential country-specific tariffs on gold bars, which could significantly impact the gold mining industry.

Adding to the downward pressure, market participants are also keeping a close eye on upcoming U.S. inflation data, which could provide crucial insights into the Federal Reserve's future interest rate decisions. The combination of these factors has created a challenging environment for gold miners, with several major players in the industry, including Newmont and other South African and Canadian miners, also experiencing pre-market declines ranging from 0.8% to 2%.