While gold prices have increased by 16.6% since the beginning of the year, major gold mining companies have seen even more impressive gains: Barrick Gold is up 21%, Newmont has surged 29%, and Agnico Eagle Mines leads with a remarkable 35% increase.
The SPDR Gold Shares ETF, which is physically backed by gold, rose 2.8% to $282.82 on Wednesday—its largest single-day percentage increase since October 13, 2023—and has gained 17% year-to-date.
This performance comes amid broader market fluctuations, with gold mining stocks and the S&P 500 seeing significant gains after President Trump modified his original tariff plans.