Gold mining stocks are outstripping leading artificial intelligence companies and bitcoin, as a bull run in precious metals fuels an even stronger rally for the “unloved” companies that dig them from the ground.
The S&P Global Gold Mining index has surged 126 per cent this year, the best performer among the S&P sector indices.
The upswing in an industry sometimes dismissed as value destructive is set to deliver bumper profits for the likes of Agnico Eagle, Barrick Mining and Newmont, which have benefited from a 52 per cent surge in the price of the precious metal since the start of January.
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