Newmont’s Golden Gleam: A Market’s Wry Dance

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Gold mining’s reigning monarch, Newmont, has lately enjoyed a performance most diverting. One might almost say it has been resplendent-though one suspects the shares, not the company, are the true star of the show. With the yellow metal’s price ascending like a particularly determined champagne cork, Newmont’s stock has pirouetted upward by 14.8% since last week’s close. A figure that would make even the most jaded speculator lift a glass-or perhaps two.

Gold, That Eternal Diva, Demands Center Stage

Gold, that ageless diva of the market, has once again stolen the spotlight. At $4,310 per ounce, it gleams brighter than a well-polished monocle. One imagines the U.S. and China trading barbs over tariffs while Congress dithers toward a shutdown, all of which has sent investors scurrying to the safety of gold like children to a parent’s coat tails. A correction looms? Pfft. Nothing a little liquidation of equities and a dash of gold cannot cure.

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Gold stocks, of course, follow this lead with the fidelity of a well-trained spaniel. Newmont, a titan in this gilded realm, has produced 6.8 million ounces in 2024, with 5.9 million projected for 2025. One wonders if the company’s accountants are still counting or have simply resigned themselves to the arithmetic.

To Buy or Not to Buy? That Is the Question

Newmont’s shares now trade at 12.2 times operating cash flow-a figure that might raise an eyebrow in the grand ballroom of finance. Historically, they’ve traded at a more modest 9.3 times. But then, history has never been particularly good with champagne. For those who find solace in the glint of gold, now may be the moment to click “buy.” Though one might also consider a gold-focused ETF, should the thought of committing to a single stock feel as daunting as a dinner party with an uninvited guest.

After all, in the theater of markets, timing is everything. And Newmont, it seems, is playing to a packed house. 🌟

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2025-10-16 23:42