Gold Mining Stocks Surge Amid Geopolitical and Economic Uncertainty
Investors are flocking to gold as a SAFE haven amid escalating geopolitical tensions and economic uncertainty. The NYSE Arca Gold Miners Index has shattered its all-time high, a milestone not seen since the 2011 euro debt crisis and U.S. credit downgrade. Conflicts in the Middle East, Russia-Ukraine, and political turbulence surrounding the Federal Reserve have fueled the rally.
Gold mining stocks are leading the charge, with majors like Newmont Corp., Agnico Eagle Mines Ltd., and Barrick Mining Corp. posting gains exceeding 80% this year. Newmont’s earnings more than doubled in 2024, with analysts projecting another 50% upside. Veritas Investment Research highlights Newmont’s return on equity as a standout metric, now nearly double last year’s level.
