The world’s biggest gold miners are at risk of missing out on the metal’s record run after spending billions of dollars to become the obvious home for bullion-focused investors.
Despite gold hitting all-time highs almost daily, Newmont shares were down about 6 per cent this year to Thursday’s market close, while rival Barrick Gold’s stock had fallen about 2 per cent. Shares of both companies gained Friday as gold set a fresh record high, with Newmont rising the most since February.
