Gold Prices Surge Amid Tariff Uncertainty Following Supreme Court Ruling
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 3 days ago
0mins
Should l Buy NEM?
Source: stocktwits
- Gold Price Surge: Spot gold (XAU/USD) rose 1% to $5,154.5 per ounce, marking its highest level since January 30, reflecting increased investor demand for safe-haven assets amid tariff uncertainties.
- Tariff Policy Shift: The U.S. Supreme Court struck down Trump's tariff policy, stating he exceeded his authority under the 1977 International Emergency Economic Powers Act (IEEPA), prompting Trump to raise global tariffs from 10% to 15%, which adds to market uncertainty.
- Dollar Index Decline: Following Trump's tariff announcement, the U.S. Dollar Index (DXY) fell 0.1%, leading to increased demand for precious metals like gold, which contributed to the price recovery.
- Mining Stocks Rise: Shares of gold miners Newmont Corp. (NEM) and Barrick Gold (B) increased by 1%, while silver miners Pan American Silver Corp. (PAAS) and First Majestic (AG) gained 1% and 2% respectively, despite retail sentiment remaining in bearish territory.
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Analyst Views on NEM
Wall Street analysts forecast NEM stock price to fall
14 Analyst Rating
11 Buy
3 Hold
0 Sell
Strong Buy
Current: 124.850
Low
89.00
Averages
110.85
High
125.00
Current: 124.850
Low
89.00
Averages
110.85
High
125.00
About NEM
Newmont Corporation is a gold company and a producer of copper, zinc, lead, and silver with operations and/or assets in the Africa, Australia, Latin America & Caribbean, North America, and Papua New Guinea regions. The Company's operations include Brucejack, Red Chris, Penasquito, Merian, Cerro Negro, Yanacocha, Boddington, Tanami, Cadia, Lihir, Ahafo, and NGM. The Brucejack operation includes four mining leases and six core mineral claims which cover 8,169 acres (3,306 hectares) and 337 mineral claims covering 298,795 acres (120,918 hectares). The Red Chris operation includes five mining leases which cover 12,703 acres and 199 mineral claims, encompassing an area of 164,903 acres (66,734 hectares). Penasquito includes 20 mining concessions for operations comprising 113,231 acres (45,823 hectares) and 60 mining concessions for exploration of 107,456 acres (43,486 hectares). The Merian operation includes one right of exploitation encompassing an area of 41,687 acres (16,870 hectares).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Analyzing Investment Potential of Newmont Gold Stock
- Market Position: Newmont Corporation, with a market capitalization of $135 billion, stands as the largest publicly traded gold stock, operating 12 assets across four continents, showcasing a robust global operational capability that surpasses many smaller gold stocks.
- Financial Performance: In 2025, Newmont generated $7.3 billion in free cash flow while successfully paying down $3.4 billion in debt, ending the year with a net cash position of $2.1 billion, which significantly enhances the company's financial health.
- Growth Projects: With a strong financial foundation, Newmont is positioned to advance multiple growth projects, including Tanami Expansion 2, Cadia Panel Caves, and Lihir Nearshore Barrier, without increasing debt, thereby laying a solid groundwork for future development.
- Investment Timing: Although Newmont's stock trades at a price-to-earnings ratio of 12.8, slightly above the five-year average of 11.4, its industry leadership and financial health make it a compelling option for investors seeking leading gold stocks.
See More
Newmont Stock Up 26.1% Year-to-Date
- Analyst Ranking: The ranking of 500 components based on average analyst opinions reflects a positive outlook for Newmont, indicating its relative strength in the industry.
- Stock Performance: Newmont's stock has gained 26.1% year-to-date, a significant increase that suggests growing investor confidence in its future performance, potentially attracting more capital inflow.
- Market Reaction: The alignment of analyst views with the positive stock movement indicates a bullish sentiment towards Newmont's fundamentals, which may further propel its stock price upward.
- Industry Impact: Newmont's strong performance could influence the stock price movements of other mining companies, prompting investors to reassess their portfolios to capture potential growth opportunities in the resource sector.
See More
Ultra-Wealthy Investors' 2025 Investment Overview
- Portfolio Dynamics: Leon Cooperman's Omega Advisors increased its stake in Manchester United to $46.5 million, indicating a sustained interest in the sports industry despite the passive nature of the investment.
- Major Investment Moves: Omega Advisors also acquired over $375 million in shares of mortgage lender Rocket Companies, making it the firm's largest holding valued at nearly $407 million, reflecting confidence in the real estate market.
- Tech Stock Performance: David Tepper's Appaloosa tripled its investment in Micron to $428.1 million, making it the firm's top holding, as Micron's stock surged approximately 50% since the start of 2026, showcasing optimism in the semiconductor sector.
- Gold Investment Strategy: Ray Dalio's Marino Management disclosed a $438.5 million position in SPDR Gold Trust, constituting nearly 90% of its portfolio, highlighting the emphasis on gold as an effective asset diversification tool.
See More
Barron’s Top Fund Families for 2025
Opportunity for Fund Managers: Last year provided a significant opportunity for skilled fund managers to demonstrate their capabilities in navigating market challenges.
Market Conditions: The financial landscape presented unique conditions that allowed for strategic investment decisions and potential gains.
Performance Evaluation: The year served as a benchmark for assessing the effectiveness and decision-making skills of fund managers.
Investor Expectations: Investors were keenly observing how fund managers adapted to the evolving market, influencing future investment strategies.
See More
Julius Baer Portfolio Manager Advises Reducing U.S. AI Exposure
- Portfolio Diversification Strategy: Julius Baer's portfolio manager Tom Watts recommends that investors reduce concentration risk in U.S. mega-cap tech by utilizing an equally-weighted S&P 500 tracker, which is not only cost-effective but also provides exposure to other sectors that may have been overlooked with market-weighted trackers.
- Global Market Outlook: In its 2026 Market Outlook, Julius Baer emphasizes that while AI remains a performance driver, investors can diversify into defensive healthcare, Swiss equities, European cyclicals, and Asia-led emerging market strengths to mitigate risks.
- Geopolitical and Macroeconomic Impact: Watts notes that 2026 will be characterized by diverging global policies, with the U.S. Federal Reserve likely to cut rates further while the Bank of England may cut faster than expected, making gold an attractive investment amid renewed uncertainties.
- Stability of Consumer Goods Stocks: Amid ongoing tech sell-offs, Watts highlights fast-moving consumer goods companies like Procter & Gamble and Reckitt Benckiser as historically resilient stocks that can weather uncertainty and volatility, showcasing their consistent earnings and strong management during challenging times.
See More
South African Stock Market Continues Uptrend, Strong ETF Performance
- Market Uptrend: South Africa's stock market has been trending steadily higher for nearly two years, brushing aside volatility in the U.S. and elsewhere, primarily driven by strong gold prices, indicating a significant reliance on gold in the market.
- ETF Momentum Recovery: The iShares MSCI South Africa ETF (EZA) has reestablished short-term momentum after a brief shakeout, with a bullish crossover in the daily MACD serving as a positive technical catalyst, suggesting a rebound in investor confidence.
- Technical Indicators Support: EZA is supported by three rising and diverging moving averages on the weekly chart, while a rising MACD histogram on the monthly chart reinforces the long-term uptrend, indicating that the intermediate- and long-term momentum behind South African equities remains healthy.
- Relative Strength Continuation: Since the start of 2025, South Africa's equity market has consistently outperformed the U.S. market, with the ratio of EZA to the S&P 500 trending higher, suggesting that South African equities could extend their relative strength through 2026, warranting investor attention on this trend.
See More
Analyzing Investment Potential of Newmont Gold Stock
- Market Position: Newmont Corporation, with a market capitalization of $135 billion, stands as the largest publicly traded gold stock, operating 12 assets across four continents, showcasing a robust global operational capability that surpasses many smaller gold stocks.
- Financial Performance: In 2025, Newmont generated $7.3 billion in free cash flow while successfully paying down $3.4 billion in debt, ending the year with a net cash position of $2.1 billion, which significantly enhances the company's financial health.
- Growth Projects: With a strong financial foundation, Newmont is positioned to advance multiple growth projects, including Tanami Expansion 2, Cadia Panel Caves, and Lihir Nearshore Barrier, without increasing debt, thereby laying a solid groundwork for future development.
- Investment Timing: Although Newmont's stock trades at a price-to-earnings ratio of 12.8, slightly above the five-year average of 11.4, its industry leadership and financial health make it a compelling option for investors seeking leading gold stocks.
See More
Newmont Stock Up 26.1% Year-to-Date
- Analyst Ranking: The ranking of 500 components based on average analyst opinions reflects a positive outlook for Newmont, indicating its relative strength in the industry.
- Stock Performance: Newmont's stock has gained 26.1% year-to-date, a significant increase that suggests growing investor confidence in its future performance, potentially attracting more capital inflow.
- Market Reaction: The alignment of analyst views with the positive stock movement indicates a bullish sentiment towards Newmont's fundamentals, which may further propel its stock price upward.
- Industry Impact: Newmont's strong performance could influence the stock price movements of other mining companies, prompting investors to reassess their portfolios to capture potential growth opportunities in the resource sector.
See More
Ultra-Wealthy Investors' 2025 Investment Overview
- Portfolio Dynamics: Leon Cooperman's Omega Advisors increased its stake in Manchester United to $46.5 million, indicating a sustained interest in the sports industry despite the passive nature of the investment.
- Major Investment Moves: Omega Advisors also acquired over $375 million in shares of mortgage lender Rocket Companies, making it the firm's largest holding valued at nearly $407 million, reflecting confidence in the real estate market.
- Tech Stock Performance: David Tepper's Appaloosa tripled its investment in Micron to $428.1 million, making it the firm's top holding, as Micron's stock surged approximately 50% since the start of 2026, showcasing optimism in the semiconductor sector.
- Gold Investment Strategy: Ray Dalio's Marino Management disclosed a $438.5 million position in SPDR Gold Trust, constituting nearly 90% of its portfolio, highlighting the emphasis on gold as an effective asset diversification tool.
See More
Barron’s Top Fund Families for 2025
Opportunity for Fund Managers: Last year provided a significant opportunity for skilled fund managers to demonstrate their capabilities in navigating market challenges.
Market Conditions: The financial landscape presented unique conditions that allowed for strategic investment decisions and potential gains.
Performance Evaluation: The year served as a benchmark for assessing the effectiveness and decision-making skills of fund managers.
Investor Expectations: Investors were keenly observing how fund managers adapted to the evolving market, influencing future investment strategies.
See More
Julius Baer Portfolio Manager Advises Reducing U.S. AI Exposure
- Portfolio Diversification Strategy: Julius Baer's portfolio manager Tom Watts recommends that investors reduce concentration risk in U.S. mega-cap tech by utilizing an equally-weighted S&P 500 tracker, which is not only cost-effective but also provides exposure to other sectors that may have been overlooked with market-weighted trackers.
- Global Market Outlook: In its 2026 Market Outlook, Julius Baer emphasizes that while AI remains a performance driver, investors can diversify into defensive healthcare, Swiss equities, European cyclicals, and Asia-led emerging market strengths to mitigate risks.
- Geopolitical and Macroeconomic Impact: Watts notes that 2026 will be characterized by diverging global policies, with the U.S. Federal Reserve likely to cut rates further while the Bank of England may cut faster than expected, making gold an attractive investment amid renewed uncertainties.
- Stability of Consumer Goods Stocks: Amid ongoing tech sell-offs, Watts highlights fast-moving consumer goods companies like Procter & Gamble and Reckitt Benckiser as historically resilient stocks that can weather uncertainty and volatility, showcasing their consistent earnings and strong management during challenging times.
See More
South African Stock Market Continues Uptrend, Strong ETF Performance
- Market Uptrend: South Africa's stock market has been trending steadily higher for nearly two years, brushing aside volatility in the U.S. and elsewhere, primarily driven by strong gold prices, indicating a significant reliance on gold in the market.
- ETF Momentum Recovery: The iShares MSCI South Africa ETF (EZA) has reestablished short-term momentum after a brief shakeout, with a bullish crossover in the daily MACD serving as a positive technical catalyst, suggesting a rebound in investor confidence.
- Technical Indicators Support: EZA is supported by three rising and diverging moving averages on the weekly chart, while a rising MACD histogram on the monthly chart reinforces the long-term uptrend, indicating that the intermediate- and long-term momentum behind South African equities remains healthy.
- Relative Strength Continuation: Since the start of 2025, South Africa's equity market has consistently outperformed the U.S. market, with the ratio of EZA to the S&P 500 trending higher, suggesting that South African equities could extend their relative strength through 2026, warranting investor attention on this trend.
See More
