Newmont, Barrick Mining Jump To Record Highs: Gold Miners Are Up 155% This Year - Barrick Mining (NYSE:B)

Core Insights - Major North American gold miners have reached record highs due to the Federal Reserve's third consecutive interest-rate cut, fueling a significant rally in precious metals [1][6] - Newmont Corp. and Barrick Mining Corp. have seen substantial year-to-date gains of 168% and 180%, respectively, with the VanEck Gold Miners ETF rising 155% [1][2] - Gold and silver prices have surged, with gold reaching $2,230 per ounce (up 62% year-to-date) and silver at $64 (up 119% year-to-date), marking their strongest annual performance since the late 1970s [3] Company Performance - Newmont Corp. experienced a 6.1% increase in stock price, achieving all-time highs and its strongest single-day performance since July [1] - Barrick Mining Corp. rose by 4%, marking its third consecutive session of gains and also reaching new records [2] Industry Trends - The broader precious metals market is experiencing a powerful rally, with the VanEck Gold Miners ETF setting new records [2] - The Federal Reserve's recent rate cuts and plans for technical purchases of Treasury bills indicate a supportive macroeconomic environment for precious metals [6][7] Expert Opinions - Analysts suggest that the current rally in gold prices is part of long-term cycles driven by macroeconomic imbalances, indicating that the cycle may still be in its early stages [8][9] - Continued central bank demand and the adoption of gold in portfolio allocations are reinforcing the recovery in gold prices [10]