Gold Mining Stocks Gain as the Precious Metal Trades at All-Time High

Alessia Pierdomenico / Bloomberg via Getty Images Investors put money into gold while selling off stocks and Treasurys on Tuesday, Sept. 2, 2025

Key Takeaways

Shares of gold miners rose as gold futures traded at an all-time high. Gold prices were boosted by a court ruling against President Donald Trump's "reciprocal" tariffs that threw their future in doubt. The expectation of a Federal Reserve interest rate cut also helped lift the price of gold.

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Shares of Newmont (NEM), Barrick Mining (B), and other gold miners advanced Tuesday as the precious metal traded at an all-time high after a court decision created major uncertainty over Trump administration tariffs.

Investors put money into the haven while selling off stocks and Treasurys following the ruling by the federal appeals court in Washington, D.C., that the president didn't have the authority to impose his "reciprocal" tariffs without Congressional approval. That has raised the question of whether the U.S. government might have to pay back the duties already collected.

Adding to the gold demand is increasing expectations that the Federal Reserve will cut interest rates at the next policymaker's meeting in two weeks. The CME FedWatch Tool, which uses fed funds futures to estimate Federal Reserve moves, showed the probabilities of a 25-basis-point reduction at 89.7%, up from 86.4% on Friday.

Gold futures for December delivery have increased by about a third since the beginning of the year.

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