Commodities
Newmont Rides Record Gold Prices to New Heights
Newmont (NYSE:NEM) stock surged as record gold prices lifted the sector this week. The world's largest gold producer benefited from the metal's strength, with its shares advancing on the news.
The company operates mines across the Americas, Africa, and Australia, mining and processing gold and producing copper, silver, zinc, and lead as by-products of its operations.
Gold has been trading near record highs due to geopolitical strains, a softer U.S. dollar, questions about the independence of central banks, and steady demand from central banks, making it an attractive store of value.