Mining stocks on the London Stock Exchange slumped in early trading Monday as gold, silver, platinum, palladium and copper prices all fell sharply overnight. Gold futures dropped 3.02% to 4,190.50, silver futures fell 5.15% to 61.463, and copper futures declined 2.22% to 6.6158, according to prices quoted at 4.08am UK time this morning.
Spot gold (XAU/USD) fell 2.96% to 4,158.63, off an overnight high of 4,285.37, while spot silver (XAG/USD) dropped 4.98% to 61.1050. Platinum futures fell 2.82% to 1,747.05 and palladium futures dropped 2.80% to 1,240.25.
London-listed miners fell in sympathy with the metals sell-off, with the sharpest falls among precious-metals producers most exposed to gold and silver. Fresnillo (LON: FRES), the silver and gold miner, led the fallers, down 5.22% to 2,741.50p. Endeavour Mining (LON: EDV), the gold producer, dropped 4.66% to 4,317.00p.
Diversified miners with broader base-metals exposure fell by smaller margins. Antofagasta (LON: ANTO), the copper miner, fell 3.51% to 3,599.50p, and Anglo American (LON: AAL), the diversified miner, dropped 3.24% to 3,911.50p. Glencore (LON: GLEN), the miner and commodities trader, fell 2.64% to 546.50p, while Rio Tinto (LON: RIO), the world’s second-largest miner, slipped 2.13% to 6,937.00p, the smallest decline of the six.
| Company | Price | Change | % Change |
|---|---|---|---|
| Fresnillo (LON: FRES) | 2,741.50p | -151.00 | -5.22% |
| Endeavour Mining (LON: EDV) | 4,317.00p | -211.00 | -4.66% |
| Antofagasta (LON: ANTO) | 3,599.50p | -131.00 | -3.51% |
| Anglo American (LON: AAL) | 3,911.50p | -131.00 | -3.24% |
| Glencore (LON: GLEN) | 546.50p | -14.80 | -2.64% |
| Rio Tinto (LON: RIO) | 6,937.00p | -151.00 | -2.13% |
The falls in London-listed mining shares track the metals sell-off directly, since a lower gold, silver or copper price cuts the revenue miners earn on every ounce or tonne they sell. Fresnillo and Endeavour Mining, the two most exposed to precious metals, fell furthest, while Rio Tinto and Glencore, with more diversified output, fell least.
The sell-off comes after a sharp run-up in metals prices earlier in 2026, and marks a reversal of part of that rally rather than a collapse in the underlying commodities. Gold futures remain well above their session low of 4,183.09 hit earlier Monday, and silver futures held above 61.345.