Gold futures stock correlation with equities has weakened

Gold futures stock correlation with equities has weakened, now showing a -0.15 coefficient over the past 30 trading days. This makes gold more appealing as a diversification tool in multi-asset portfolios. Under Director Russ Vought, the Office of Management and Budget (OMB) instructed agencies to look at removing employees working on programs, projects, or activities that have another source of funding, will see their discretionary funding lapse on October 1, and don’t align with Trump’s priorities. Shares of NEM were last seen up 1.7% to trade at $83.08, earlier hitting a more than three-year peak of $83.80. The equity is fresh off a seventh consecutive weekly win streak and has added 123% in 2025. Gold futures stock positions have seen a notable uptick in commercial hedging activity. Mining companies appear to be locking in Q3 prices ahead of possible supply chain constraints in South America.