The Regis Resources Limited (ASX: RRL) share price is in the red today despite no news having been released by the company.
However, the price of gold is also falling today and might be dragging the gold miner’s shares down with it.
Right now, the Regis Resources share price is $2.40, 3.23% lower than its previous close.
Let’s take a closer look at Regis’ bad day on the ASX.
Regis struggles on Thursday
The Regis Resources share price is sliding today despite silence from the company.
However, while there’s not much talk from Regis today, it’s among many gold companies struggling alongside the price of gold.
The price of gold has spent most of today trending lower. Right now, it’s US$1,814.60 an ounce, US$1.40 lower than it ended yesterday.
According to reporting by Reuters, while most of Australia slept, the price of gold was falling alongside the US dollar. The trend now seems to have continued beyond the US’s bedtime.
The publication states the US dollar was being weighed down by a US national employment report that found the nation’s private employers’ employment figures were below expectations.
The ASX 200 gold sector is also a sea of red. Other gold-producing giants struggling include Newcrest Mining Ltd (ASX: NCM), Northern Star Resources Ltd (ASX: NST), and Evolution Mining Ltd (ASX: EVN). Their share prices are down 1.53%, 2.37%, and 2.63% respectively.
Regis Resources share price snapshot
Today’s flop has added to the Regis share price’s recent woes.
At the time of writing, it is 35% lower than it was at the start of 2021. It has also fallen a whopping 53% since this time last year.
At its current share price, Regis has a market capitalisation of around $1.8 billion.
The post The Regis Resources (ASX:RRL) share price is falling on Thursday appeared first on The Motley Fool Australia.
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More reading
- 5 things to watch on the ASX 200 on Thursday
- Why Bubs, Harvey Norman, Mesoblast, & Regis shares are dropping
- Regis Resources (ASX:RRL) share price slides as profits fall 27% in FY21
- 5 things to watch on the ASX 200 on Thursday
- 5 things to watch on the ASX 200 on Thursday
Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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