Barrick Gold steht unter Verkaufsdruck.

What happened: Barrick Gold (NYSE:B) shares fell in pre-market trading on Monday after the company reported Q2 earnings and revenue below expectations, despite higher gold production and year-on-year growth. The stock's RSI hit 27.8, indicating oversold conditions, while gold prices face headwinds, pushing Newmont (NEM) into a bear market.

Market impact: The sell-off in Barrick Gold affected the broader gold mining sector, with Kinross Gold (K.TO, KGC) also in focus as it renewed its normal course issuer bid program. The declining gold price, driven by multiple headwinds, negatively impacted mining stocks, with Newmont being a notable victim.

What to watch next: Investors should monitor Barrick's earnings call for further insights into the company's performance and outlook. Additionally, keep an eye on gold prices, as they are a key driver for mining stocks, and the upcoming gold production reports from other major miners.