XME Rode Gold to a Near Double, Now Freeport’s Q2 Restart Will Test the Rally

Quick Read SPDR S&P Metals and Mining ETF (XME) nearly doubled to $118 from $62 over the past year. Newmont generated $1.6B in free cash flow as gold prices surged to $4,900-$5,000 per ounce. Freeport-McMoRan plans to restart Grasberg mine in Q2 2026 for 300 million pounds of copper. Read: If you follow markets closely, Kalshi lets you profit directly from being right about what comes next. The SPDR S&P Metals & Mining ETF (NYSEARCA:XME) has nearly doubled over the past year, climbing from aroun ...