Gold hit fresh record highs in 2025, and that has made it a lot more relevant for income investors. According to Statista, gold prices rallied by more than 50% through October 2025, which is the strongest annual gain since 1979, as the metal pushed past $4,000 per troy ounce with ongoing geopolitical uncertainty and continued monetary easing by the U.S. Federal Reserve. Forecasts for 2026 still point to gold averaging above $4,000 per ounce, and some analysts think it could get close to $5,000 at some point during the year.
As spot prices moved up, gold mining stocks generally followed, and that has opened a window where investors may be able to get both price gains and dividend income from profitable producers. Caledonia Mining Corporation (CMCL) is one of the names that fits that description.
