Coeur Mining, Inc. (NYSE:CDE) suffered a significant 16.11% drop on Tuesday, closing at $18.48 per share, in line with the overall sector decline following a sharp fall in gold prices. Gold and silver plunged by 6.3% and 8.7%, respectively, before recovering slightly.

Investors seemed to take profits after the recent surge in precious metals prices. Coeur Mining is set to announce its third-quarter earnings on October 29th after the market closes, with a conference call to follow. The earnings release coincides with the Federal Reserve’s interest rate decision, expected to impact precious metal prices.

Lower interest rates often boost precious metal prices by weakening the US dollar, making gold more affordable for foreign investors. Despite the potential of Coeur Mining as an investment, some believe that certain AI stocks offer higher returns with less risk. For more information on a promising AI stock, check out the free report linked in the article.

Read more at Yahoo Finance: Coeur Mining (CDE) Gets Battered by Gold Decline