Caterpillar's stock has surged 124% over the past year, driven primarily by its role in data center construction for AI infrastructure. Beyond data centers, the company benefits from mining equipment demand for commodities extraction, clean energy production, and gold mining. With a strong balance sheet, A+ credit rating, $10 billion in enterprise cash, and 30 consecutive years of dividend increases, Caterpillar appears well-positioned for continued growth in 2026 and beyond.

Hycroft Mining, a small-cap miner with a $3.5 billion market cap, released an updated mineral resource estimate showing 55% growth in measured and indicated gold and silver resources at its Nevada mine, with approximately $50 billion worth of recoverable minerals. While the company's massive reserves and strong recovery rates (83% gold, 78% silver) are promising, investors should remain cautious due to Hycroft's lack of profitability, minimal revenue, significant capital requirements, and exposure to precious metals price volatility.

Gold prices have surged 70% over the past year, reaching above $5,000 per ounce, enabling major gold producer Newmont to generate record cash flows of $7.3 billion in free cash flow. The company is returning capital to shareholders through dividends and share buybacks while maintaining a strong balance sheet, positioning it as an attractive way to invest in precious metals even if gold prices decline.

The global precious metals market is projected to grow from USD 640.20 billion in 2026 to USD 1,147.61 billion by 2035, with a CAGR of 6.70%. Asia Pacific dominates with 39.01% volume share, while gold remains the largest segment. Growth is driven by demand in automotive catalysts, electronics, renewable energy, and hydrogen fuel cell technology. Key developments include strategic deals and corporate restructuring among major producers.

Newmont Corporation reported strong Q4 earnings of $2.52 per share (beating $2 estimate) and revenue of $6.82 billion (exceeding $6.16 billion estimate), with 2% gold production increase. Despite solid results and 2026 guidance projecting 5.3 million ounces of production, NEM shares declined 2.63% on Friday, pressured by a bearish MACD signal and resistance near recent highs, though the stock maintains a Buy rating with $82.87 average price target.

Newmont Corp (NYSE: NEM) shares declined 3.10% to $121.90 on Tuesday as Lunar New Year market closures across Asia reduced gold demand. Gold prices fell below $4,900 per ounce, with spot prices dropping as much as 3% to their lowest level in over a week. The weakness in precious metals is compounded by investor caution ahead of Wednesday's Federal Reserve meeting minutes release. Technically, the stock is trading below key moving averages with MACD below its signal line, indicating bearish pressure, though key support remains at $108.00.

The iShares Silver Trust (SLV) and Sprott Gold Miners ETF (SGDM) offer different approaches to precious metals investing. SLV tracks physical silver prices with $44.77B in assets, while SGDM invests in 43 gold mining stocks with $823.11M in assets. Both charge 0.50% expense ratios and delivered triple-digit returns over the past year. SGDM offers a 0.86% dividend yield, while SLV does not. The choice between them depends on whether investors prefer silver or gold exposure, and physical metals versus mining equities.

Two gold-focused ETFs, IAU and SGDM, have benefited from gold's strong performance over the past year. SGDM (Sprott Gold Miners ETF) returned 137% in one year by holding 43 gold mining companies, while IAU (iShares Gold Trust) returned 73% by tracking physical gold prices. IAU offers lower costs (0.25% vs 0.50% expense ratio) and greater liquidity, while SGDM provides higher volatility and returns through mining company exposure.

Newmont Corporation stock has declined 16.5% since hitting an all-time high on January 28, 2026, following sharp drops in gold and silver prices. Gold fell from $5,419.80 to $4,816.10 per ounce, while silver plummeted from $116.58 to $74.89 per ounce. Despite the recent decline, the author argues Newmont stock appears undervalued with a P/E ratio of 18x trailing earnings and 16x forward earnings, with expected 38% earnings growth next year, resulting in a PEG ratio of 0.5.

Gold and silver prices collapsed on Friday, with silver down 27% and gold down 9.5% — their worst single-day declines since 1980. The selloff was triggered by President Trump's nomination of Kevin Warsh as Federal Reserve chair, perceived as a hawk who prioritizes inflation control over monetary stimulus. This unwound the 'debasement trade' that had driven precious metals higher in January, causing mining stocks to suffer double-digit losses.

Newmont Corporation stock fell 7.2% after gold prices retreated from all-time highs above $5,615 to $5,080. Despite the pullback, UBS raised its price target on Newmont by 28% to $160 per share, maintaining a buy rating. The analyst argues the stock remains undervalued with a PEG ratio of 0.34 and expected 58% annual earnings growth over five years.

Gold surged above $5,000 per ounce for the first time, driven by geopolitical tensions including Trump's tariff threats on Canada, the Greenland conflict, and an impending government shutdown. The Federal Reserve meets this week amid uncertainty, while gold miners benefit from the precious metals rally as investors seek safe-haven assets.