Gold Stock ETF GDX Slips Again as Iran Pressure Melts Investor Price Hopes

FomoAnxiety · 2026-03-20T20:08:26+00:00

Gold mining stocks fell as gold prices faced their largest weekly loss since 1983, driven by a strong dollar and inflation concerns. Key stocks like GDX and major miners reported significant declines amidst expectations of future interest rate hikes.

FomoAnxiety

2026-03-20 20:08:26

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Gold mining stocks were lower again today as the precious metal prices stayed on course for its biggest weekly loss since 1983.

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The VanEck Gold Miners ETF GDX -3.38% ▼ was down 3% today with major holdings Agnico Eagle Mines AEM -3.63% ▼ off 3.39%, Newmont Mining NEM -3.87% ▼ down 3.47%, and Wheaton Precious Metals WPM -5.10% ▼ off 4.47%.

The spot gold price was down 3.16% at $4,575, hit by a strong U.S. dollar, continued concerns over a hawkish Federal Reserve and the Iranian conflict.

The Federal Reserve kept rates unchanged on Wednesday and signaled that inflation could rise. Traders have raised their expectations of a rate increase to 50% by October, amid concerns that a prolonged conflict could fuel global inflation.

Gold is typically viewed as a hedge against inflation, but higher interest rates increase the appeal of yield- bearing assets, while a stronger dollar makes bullion more expensive for holders of other currencies.

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