New York, January 26, 2026, 15:00 (EST) — Regular session.
- Buenaventura shares surged more than 6% in afternoon trading after bullion prices jumped sharply.
- Gold topped $5,100 an ounce, hitting a new record as investors rushed into safe-haven assets
- Traders now eye the Federal Reserve’s January 27–28 meeting for new direction
Shares of Compañía de Minas Buenaventura S.A.A. jumped 6.5% to $39.52 in Monday afternoon trading, after reaching an intraday peak of $41.25. The Peru-based miner’s last close was $37.10.
This move stands out because metal-linked stocks have surged back into favor, fueled by bullion reaching new peaks and drawing cash into miners and sector funds. Buenaventura’s U.S.-listed shares typically swing harder than the metal itself, and traders are taking full advantage of that volatility.
Gold shot above $5,100 an ounce on Monday, setting a fresh record as it gained about 2% by early afternoon. Silver soared over 10% to a new all-time high of $117.69 an ounce, and platinum hit historic highs as well, Reuters reported.
Kyle Rodda, senior market analyst at Capital.com, attributed the recent jump in gold prices to a growing “crisis of confidence” in U.S. leadership and assets, Reuters reported. Reuters
Buying surged across the sector. The VanEck Gold Miners ETF gained 1.5%, while the Global X Silver Miners ETF jumped 1.6%. Newmont shares rose 1.9%, and Pan American Silver added 1.6%.
Buenaventura is trading like a bullion proxy despite no new headlines, but a big project is quietly gaining traction. In a December filing, the company disclosed that its San Gabriel gold operation in southern Peru produced its first doré bar—a raw gold-silver blend—during commissioning tests. They’re currently working with Peru’s Energy and Mines Ministry to secure approval for full-scale production and commercialization. The company also reiterated its 2026 goal: processing 2,000 tons daily and producing between 70,000 and 80,000 ounces of gold.
That matters a lot at today’s prices. A $50 or $100 move in gold sharpens investors’ patience for projects that are merely “close” and boosts demand for producers who can deliver steady ramp-ups and reliable output.
But those same forces pushing gold up could quickly push it down. Analysts point to possible triggers for a slide — shifts in rate expectations, forced selling during stock market swings, or calming geopolitical risks — with miners likely to magnify any move. “The only certainty at the moment seems to be uncertainty,” independent analyst Ross Norman told Reuters. Reuters
The Federal Reserve’s two-day meeting on January 27–28 is the next big event on the calendar. The decision drops Wednesday afternoon, with a press conference set for 2:30 p.m. ET.
Traders are watching Buenaventura closely to see if bullion can hold above recent highs into midweek. They’ll also be on the lookout for any new updates from the company regarding San Gabriel’s shift from commissioning to steady commercial output.
