Gold mining cost inflation hits 13-year high
Published . Updated .
Gold mining costs climbed to a record high of $1,930 an ounce, driven by sharp cost inflation, yet global output remains on track for another annual record.
Directly affected
- No company is named in this report.
Indirectly affected
- GLD SPDR Gold Shares-3.7% 30d
SPDR Gold Shares: it follows gold or gold miners. Linked by “gold” (gold) in this story.
- GDX VanEck Gold Miners ETF-10.4% 30d
VanEck Gold Miners ETF: it follows gold or gold miners. Linked by “gold” (gold) in this story.
- PICK iShares MSCI Global Metals & Mining Producers ETF-7.0% 30d
iShares MSCI Global Metals & Mining Producers ETF: it holds metals and mining companies. Linked by “mining” (metals & mining) in this story.
- TIP iShares TIPS Bond ETF-0.5% 30d
iShares TIPS Bond ETF: it is a common hedge when prices rise. Linked by “inflation” (inflation and prices) in this story.
- NEM Newmont-13.4% 30d
Newmont (gold and silver ores): gold miners' profits move with the gold price. Linked by “gold” (gold) in this story.
- FCX Freeport-McMoRan-13.4% 30d
Freeport-McMoRan (metal mining): miners' profits move with metal prices. Linked by “mining” (metals & mining) in this story.
- AEM Agnico Eagle Mines-7.6% 30d
Agnico Eagle Mines (gold and silver ores): gold miners' profits move with the gold price. Linked by “gold” (gold) in this story.
- BHP BHP Group-6.7% 30d
BHP Group (metal mining): miners' profits move with metal prices. Linked by “mining” (metals & mining) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| GLD | +2.96% | +1.94% | base | after close | after close | after close | after close |
| GDX | +5.02% | +2.75% | base | after close | after close | after close | after close |
| PICK | +2.25% | +1.60% | base | after close | after close | after close | after close |
| TIP | -0.07% | +0.06% | base | after close | after close | after close | after close |
| NEM | +3.24% | +2.46% | base | after close | after close | after close | after close |
| FCX | +4.78% | +5.07% | base | after close | after close | after close | after close |
| AEM | +6.04% | +3.07% | base | after close | after close | after close | after close |
| BHP | +3.20% | +2.21% | base | after close | after close | after close | after close |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
Market Call
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Gold mining cost inflation hits 13-year high MiningMX
Source: MiningMX
How far Spdr Gold Trust (GLD) has moved since 3 Nov 2026
| Company | When | Move | Status |
|---|---|---|---|
| Agnico Eagle Mines (AEM) | three days earlier | +3.07% | final price |
| Agnico Eagle Mines (AEM) | five days earlier | +6.04% | final price |
| BHP Group (BHP) | three days earlier | +2.21% | final price |
| BHP Group (BHP) | five days earlier | +3.20% | final price |
| Freeport-Mcmoran (FCX) | three days earlier | +5.07% | final price |
| Freeport-Mcmoran (FCX) | five days earlier | +4.78% | final price |
| Vaneck Etf Trust (GDX) | three days earlier | +2.75% | final price |
| Vaneck Etf Trust (GDX) | five days earlier | +5.02% | final price |
| Spdr Gold Trust (GLD) | three days earlier | +1.94% | final price |
| Spdr Gold Trust (GLD) | five days earlier | +2.96% | final price |
| Newmont (NEM) | three days earlier | +2.46% | final price |
| Newmont (NEM) | five days earlier | +3.24% | final price |
| Ishares Msci Global Metals & Mining (PICK) | three days earlier | +1.60% | final price |
| Ishares Msci Global Metals & Mining (PICK) | five days earlier | +2.25% | final price |
| Ishares Tr (TIP) | three days earlier | +0.06% | final price |
| Ishares Tr (TIP) | five days earlier | -0.07% | final price |
Trades by members of Congress and officials in the stocks in this story
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
Who is named in “Gold mining cost inflation hits 13-year high”
Companies tied to this story
- GLD Spdr Gold Trust
For “Gold mining cost inflation hits 13-year high,” Spdr Gold Trust (GLD) is linked, with no stored direction, medium confidence. Reason on file: SPDR Gold Shares: it follows gold or gold miners. Linked by “gold” (gold) in this story
- GDX Vaneck Etf Trust
Vaneck Etf Trust (GDX) is linked, with no stored direction, medium confidence in the 3 Nov 2026 story “Gold mining cost inflation hits 13-year high.” Reason on file: VanEck Gold Miners ETF: it follows gold or gold miners. Linked by “gold” (gold) in this story
- PICK Ishares Msci Global Metals & Mining
For “Gold mining cost inflation hits 13-year high,” Ishares Msci Global Metals & Mining (PICK) is linked, with no stored direction, medium confidence. Reason on file: iShares MSCI Global Metals & Mining Producers ETF: it holds metals and mining companies. Linked by “mining” (metals & mining) in this story
- TIP Ishares Tr
For “Gold mining cost inflation hits 13-year high,” Ishares Tr (TIP) is linked, with no stored direction, medium confidence. Reason on file: iShares TIPS Bond ETF: it is a common hedge when prices rise. Linked by “inflation” (inflation and prices) in this story
- NEM Newmont
Newmont (NEM) is linked, with no stored direction, medium confidence in the 3 Nov 2026 story “Gold mining cost inflation hits 13-year high.” Reason on file: Newmont (gold and silver ores): gold miners' profits move with the gold price. Linked by “gold” (gold) in this story
- FCX Freeport-Mcmoran
In “Gold mining cost inflation hits 13-year high,” Freeport-Mcmoran (FCX) is linked, with no stored direction, medium confidence. Reason on file: Freeport-McMoRan (metal mining): miners' profits move with metal prices. Linked by “mining” (metals & mining) in this story
- AEM Agnico Eagle Mines
For “Gold mining cost inflation hits 13-year high,” Agnico Eagle Mines (AEM) is linked, with no stored direction, medium confidence. Reason on file: Agnico Eagle Mines (gold and silver ores): gold miners' profits move with the gold price. Linked by “gold” (gold) in this story
- BHP BHP Group
BHP Group (BHP) is linked, with no stored direction, medium confidence in the 3 Nov 2026 story “Gold mining cost inflation hits 13-year high.” Reason on file: BHP Group (metal mining): miners' profits move with metal prices. Linked by “mining” (metals & mining) in this story
How “Gold mining cost inflation hits 13-year high” reaches Spdr Gold Trust (GLD)
The 3 Nov 2026 story “Gold mining cost inflation hits 13-year high” names Spdr Gold Trust (GLD) because of this story.
For Spdr Gold Trust (GLD), the reason on file says SPDR Gold Shares: it follows gold or gold miners. Linked by “gold” (gold) in this story
Vaneck Etf Trust (GDX) is here too. Its reason reads: VanEck Gold Miners ETF: it follows gold or gold miners. Linked by “gold” (gold) in this story
Dates in the story, and the Spdr Gold Trust (GLD) price range
GDX traded between 78.92 and 89.70 across 20 sessions. The latest close on file is 83.13. GLD traded between 373.41 and 400.78 across 20 sessions. The latest close on file is 379.67. PICK traded between 54.38 and 61.57 across 20 sessions. The latest close on file is 56.72.
How strong the case is around Spdr Gold Trust (GLD)
46 out of 100
“Gold mining cost inflation hits 13-year high” scores 46 out of 100. The score uses 1 sources, and 8 linked companies.