Why gold mining stocks trade at yearly lows today

The latest strength of the USD and the rising Treasury yields have served as main series catalysts for gold mining stocks. Now, Gold is testing the support level at USD 1750.
The U.S. Dollar Index, which measures the strength of the U.S. dollar against a broad basket of currencies, is struggling to settle above the resistance at 93.10 which is not too far from yearly highs at 93.56.
10-year Treasuries is testing the resistance at 1.38% which served as a major obstacle on the way up in August and September.
This is a relatively important moment for gold mining stocks such as Newmont, Kinross and Barrick as attempts continue to settle below the important support level.
In case this attempt is successful, gold mining stocks are suggested to gain major momentum.
Treasury yields rose, posing a big problem for the gold market. Gold pays no interest benefiting from its safe haven status as traders focus on the forthcoming reduction of Fed’s asset purchase program.
The situation may change quickly in case the Fed is more pacifist than expected. In such a scenario, gold will move higher while traders will rush to buy gold mining stocks near yearly lows.
Traders are concerned about potential increased volatility in the future trading sessions as the market will likely remain nervous until the Fed announces its Interest Rate Decision and provides commentary on September 22.