Gold prices have climbed to record levels over the past year, turning heads among investors seeking protection against inflation, geopolitical tensions, and currency fluctuations. With spot gold hovering well above $4,500 per ounce in recent months and averaging realized prices that boosted miner margins, the sector delivered standout results in early 2026.
Yet not every gold producer translated those prices into equal gains. Let's examine why Newmont (NEM) stands out—and what its latest earnings reveal about capital allocation in a high-gold-price environment.
