$Newmont(NEM.US) fell two points, $ZIJIN GOLD INTL(02259.HK) fell over four points, $Pro Ultr GLD(UGL.US) also fell, and $Pro Ultr Silver(AGQ.US) even fell over six points — the gold price retreated 1.2% to $4,076 per ounce that day, dragging down both mining companies and leveraged precious metal products.

Behind this is the renewed setback in US-Iran ceasefire talks and a retreat of safe-haven buying, with the premium previously inflated by geopolitics being unwound. $LAOPU GOLD(06181.HK) also fell over five points, but the logic is different — it relies more on brand and luxury premium, following a different set of dynamics than the gold price and miners, and this round's weakness is just following the overall negative sentiment in gold.