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Gold miners expected to earn $3.5 bn in Q2, up from $2.4 bn a year ago, with gold prices 37% higher YoY at $4,506/oz. See the earnings outlook and cost
Gold miners are projected to post a combined second‑quarter profit of nearly $3.5 billion, up from $2.4 billion a year earlier, driven by a 37% rise in gold prices to $4,506.41 per ounce despite a 14% pull‑back from the January record high of $5,594.82 /oz [1].
| At a glance | |
|---|---|
| Combined Q2 profit (Newmont & Barrick) | ~$3.5 bn |
| Q2 profit a year earlier | $2.4 bn |
| Gold price YoY change | +37% to $4,506.41/oz |
| Record‑high price (Jan) | $5,594.82/oz (‑14% from record) |
LSEG data shows the two largest listed producers, Newmont and Barrick, will together generate almost $3.5 bn in Q2 earnings, a sizable increase over the same period last year. The surge reflects a 37% year‑over‑year rise in average gold prices, which lifted earnings even as prices fell more than 14% from the January peak of $5,594.82 /oz. Analysts note that higher energy costs linked to the Iran war could dampen profit growth, but both firms are still expected to deliver strong free‑cash flow and maintain robust balance sheets [1].
Despite the cost pressures, the sector’s cash generation remains solid, prompting Scotiabank to forecast significant share‑repurchase programmes for Newmont, Barrick, Agnico Eagle and Kinross. RBC analyst Josh Wolfson highlighted that most gold miners hold net‑cash positions and are positioned to return capital to shareholders while targeting improved operating performance in the second half of 2026 [1]. The earnings releases are scheduled for Newmont on Thursday, Agnico and Kinross on July 29, and Barrick on August 10.
The projected profit jump underscores the sector’s resilience: higher gold prices are offsetting rising energy costs, but the ultimate impact will hinge on the upcoming earnings reports and any further shifts in commodity pricing.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 3 outlets · Jul 22, 2026 · How we report
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24-karat gold consists of 99.9% pure gold, whereas 14-karat gold contains 58.3% gold mixed with other metals. The addition of other metals in 14-karat gold increases the durability and longevity of the jewelry compared to the softer 24-karat gold.
Gold jewelry that turns black is often gold-plated, meaning a thin layer of gold has been applied over a base metal. As the gold layer wears off through daily use, the underlying base metal is exposed and can discolor.
All gold possesses inherent value, but the monetary worth of gold jewelry depends on factors such as purity, craftsmanship, rarity, and historical significance. Not all gold items hold significant monetary value, particularly if they are gold-plated or contain low concentrations of gold.