New York, January 26, 2026, 15:00 (EST) — Regular session.
- Buenaventura shares climb over 6% in afternoon trading, following a sharp rally in bullion prices
- Gold surged past $5,100 an ounce, setting a fresh record as investors flocked to safe-haven assets
- Traders are turning their attention to the Federal Reserve’s meeting on January 27–28 for fresh signals
Shares of Compañía de Minas Buenaventura S.A.A. climbed 6.5% to $39.52 in afternoon trading Monday, having hit a session high of $41.25. The Peru-based miner had previously closed at $37.10.
This shift is significant as metal-linked stocks have once again become a hotspot for quick gains, driven by bullion hitting fresh highs and attracting money into miners and sector funds. Buenaventura’s U.S.-listed shares often move more sharply than the metal, and traders are playing them accordingly.
Gold surged past $5,100 an ounce on Monday, hitting a new record and gaining roughly 2% by early afternoon. Silver climbed to an all-time high of $117.69 an ounce, rising more than 10%, while platinum also reached a historic peak, Reuters reported. (Reuters)
Kyle Rodda, senior market analyst at Capital.com, described the recent surge in gold prices as sparked by a “crisis of confidence” in U.S. leadership and assets, according to a separate Reuters report on the rally. (Reuters)
Buying swept through the sector. The VanEck Gold Miners ETF climbed 1.5%, and the Global X Silver Miners ETF jumped 1.6%. Shares of Newmont rose 1.9%, with Pan American Silver up 1.6%.
Buenaventura’s trading like a bullion proxy even without fresh headlines, but there’s a major project simmering in the background. In a December filing, the company revealed its San Gabriel gold operation in southern Peru produced its first doré bar—an unrefined gold-silver mix—during commissioning tests. They’re now coordinating with Peru’s Energy and Mines Ministry to clear the way for full-scale production and commercialization. The company also reaffirmed its 2026 target: processing 2,000 tons per day and producing 70,000–80,000 ounces of gold.
That’s significant at current prices. When gold swings by $50 or $100, investors grow less tolerant of projects that are just “nearly there” and more eager to reward producers delivering smooth ramp-ups and consistent output.
Yet the very factors driving gold higher could just as easily reverse. Analysts warn of several possible catalysts for a downturn — changes in rate outlooks, forced selling amid equity market turbulence, or easing geopolitical tensions — with miners amplifying such moves. “The only certainty at the moment seems to be uncertainty,” independent analyst Ross Norman told Reuters. (Reuters)
The next major event is the Federal Reserve’s two-day meeting on January 27–28. The decision will come Wednesday afternoon, followed by a press conference at 2:30 p.m. ET. (Federal Reserve)
Traders will be keeping an eye on Buenaventura to see if bullion stays above recent highs through midweek. They’ll also look for any fresh updates from the company about San Gabriel’s progress from commissioning toward steady commercial production.
