NEM is trading at $93.65 (4.28% down) as softer gold prices and a broader risk-off tone continue to pressure the mining sector.
- Gold-linked sentiment remains weak as the metal retreats from recent highs, weighing on miners across the sector following a prior session slide.
- Broader market volatility, including a global semiconductor-led selloff, has added to the cautious tone, offsetting the long-term positive news regarding the Red Chris Block Cave Project approval.