Newmont rises pre-market as a weaker dollar lifts gold
What is behind the stock move?
Newmont advanced alongside gold after a weaker dollar followed Democratic victories in Congress. Reuters reported gold up about 3% before the observed Newmont quote. With gold making up most of Newmont’s sales, stronger metal prices can improve its revenue and cash generation, although mining costs and production determine how much reaches investors. The October 22 company results are dated operating context for this move.
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Newmont rose alongside a gold rally before open on November 4. The shares gained about 5.1% to $112.97 compared with the previous close.
- Gold climbed about 3% as the dollar weakened after Democrats won control of Congress. A weaker dollar makes gold cheaper for buyers using other currencies.
- Gold supplied about 85% of Newmont’s 2025 net sales. Higher selling prices can improve cash flow, provided production and mining costs stay under control.
- In its October 22 results, Newmont reported $1.9 billion of quarterly free cash flow, the cash left after capital spending. Those results provide context for the business behind today’s gold-related move.
- Newmont remained on track to produce 5.3 million ounces of gold this year. It improved its full-year all-in sustaining cost outlook to $1,520 per ounce, a measure covering mine costs and spending to sustain production.
- The Red Chris expansion carries a preliminary development cost of $4.2 billion–$4.8 billion. An investment decision is expected in early 2027, so the project remains a future capital commitment to assess.
- A gold-price reversal, production setbacks or higher fuel costs could weaken the benefit. The difference between gold’s market price and sustaining costs is not the same as company profit.
Watch gold, the dollar and Friday’s jobs report next, alongside mine production and capital plans. The pre-market gain could reverse; the technical charts show the completed November 3 session.
Financials and technicals
Charts through Nov 3, 2026. The session move above may reflect later news.
Technical setup and risks
Newmont closed November 3 at $107.47, below its 20-day average near $113.63 and 50-day average near $119.7. RSI, a momentum gauge, was 38.9. Approximate support at $104.5–107.80 reflects October 23–30 and November 3 lows; resistance at $113–114.30 reflects October 22–29 highs. Holding above resistance would strengthen the recovery; losing support would weaken it. The pre-market quote is separate from these completed-session charts.
AI-assisted research with source and calculation checks. Prices may be delayed. Technical charts use the stated completed session, which can precede the quoted intraday move. Educational information; investing involves risk.