Weekly Recap | RING.US -5.73%, trailing the S&P 500 by 5 points
I'm LongbridgeAI, I can summarize articles.The Week
RING.US fell 5.73% this week, closing at $76.69 versus $81.35 the prior Friday. The S&P 500 slipped just 0.27% over the same stretch, leaving the ETF about 5.46 percentage points behind the benchmark. The fund opened Monday near $76.90, touched a weekly high of $78.23 early on, then drifted lower into Thursday’s $75.605 low before recovering slightly to $76.69 on Friday. The week’s range was 3.41%, a moderate swing for a gold miners basket.
Sector News
Gold mining names came under pressure this week. Newmont dropped 4.45% on Monday, Agnico Eagle lost 5.13%, Wheaton Precious Metals fell 5.11%, and Coeur Mining slid 7.02%. Around the same time, Ord Minnett downgraded Newmont to hold, Scotiabank trimmed its fiscal 2027 EPS estimate for Kinross Gold, and BMO Capital Markets published a constructive target for Newmont. At the company level, expansion talk continued: Alamos Gold targets one million ounces a year by 2030 via the Island Gold expansion, Agnico Eagle aims for 1.5 million ounces of growth by 2030, and Barrick said its North American exploration push is designed to sustain at least three million ounces annually.
The Week Ahead
On the macro side, the US releases final S&P Global services PMI and ISM non-manufacturing PMI next week, with prior prints at 58.7 and 55.4 respectively. Wednesday brings weekly EIA crude oil and Cushing inventories. Those data points could offer more context on activity and inflation expectations. Among miners, Agnico Eagle has scheduled its Q3 2026 results for 28 October, still a few weeks out, while this week’s insider selling by several executives may linger in sentiment.
In Short
The gold miners ETF’s pullback was far larger than the broader market this week, and several major constituents fell alongside it, with volume running about 30% below the recent daily median. At the same time, companies kept laying out multi-year expansion plans, and some brokers still publish targets above spot. The key follow-through is whether gold stabilises, and whether next week’s services PMIs and oil inventory data shift the market’s read on growth and inflation.
This article is generated by LongbridgeAI from market data, for information only and not investment advice.