While gold bullion has risen 16.6% year-to-date, major gold miners have outperformed the metal itself. Barrick Gold shares have climbed about 21%, Newmont has jumped roughly 29%, and Agnico Eagle Mines has posted the strongest gains at approximately 35% since the start of the year.
The SPDR Gold Shares ETF (physically backed by gold) surged 2.8% to close at $282.82 on Wednesday, marking its largest one-day percentage gain since October 13, 2023. The ETF is up roughly 17% so far this year, reflecting solid investor demand for gold exposure.
These moves occurred against a backdrop of broader market volatility. Gold mining stocks and the S&P 500 both recorded notable advances after President Trump adjusted his original tariff proposals, which eased some investor concerns and helped lift risk assets alongside precious metals and related equities.