Gold Rush Fizzles: Miners Struggle Despite Bullion Boom

Gold miners are struggling to capitalize on record-high gold prices due to rising operational costs, particularly in labor and other expenses. Newmont Corp., the world’s largest gold miner, reported disappointing earnings, revenue, and profit margins in the third quarter, causing its stock to plummet. This suggests that the gold mining industry may be facing challenges in translating high gold prices into increased profitability, as inflationary pressures continue to impact their operations.