The Evolution Mining Ltd (ASX: EVN) share price has sunk lower in morning trade and is down 2.5% to $2.40 at the time of writing.
A number of other gold mining shares such as OceanaGold Corporation (ASX: OGC) and Independence Group NL (ASX: IGO) are also trading lower today.
This has dragged the S&P/ASX All Ords Gold (Index: ^AXJO) (ASX: XJO) down for a second day in a row. The index is down 0.5% today.
Today's decline is likely to relate to a drop in the gold price following the U.S. Federal Reserve's decision to lift interest rates in the United States to between 1% and 1.25%.
Currently the spot gold price is fetching US$1,153 an ounce, down approximately 3% from last week's high.
According to CME Group, there is a 38.5% probability that the Fed will raise rates to between 1.25% and 1.5% by the end of the year.
