Newmont, Freeport Stocks Drop. Diving Gold Prices Will Continue to Smash Miners.

Freeport-McMoRan Royal Gold and Newmont all dropped—by 3.4%, 3.3% and 7.3%, respectively. Continuous gold futures were down 6.9% to $4,257.60 an ounce Monday morning. The price moves came after President Donald Trump said Saturday that the U.S. would “hit and obliterate” Iranian power plants if Tehran didn’t open the Strait of Hormuz within 48 hours.