AXMIN Inc (TSXV: AXM)
AXMIN Inc. (TSXV:AXM) is a Canadian-based exploration and development company with a strong focus on central and West Africa.
Gold prices have surged in 2025, fueling a strong rebound in shares of major global gold miners. Data shows that Newmont, the world’s largest listed gold producer, has seen its stock rise 63% since its December 30 low, while Canada’s Barrick Mining has gained 40.6% from its December 19 low. Meanwhile, AngloGold Ashanti and South Africa’s Gold Fields have soared by 108% and 88%, respectively.
Analysts suggest that if gold assumes a more prominent role in investment strategies, gold miners could become even more attractive—particularly given the lengthy and complex process of discovering and developing new deposits.
Since the early 1970s, when nations abandoned the gold standard, gold has largely been viewed as a niche asset—primarily serving as an inflation hedge or a safe haven during geopolitical crises. To some extent, its role in central bank reserves and investment portfolios was eclipsed by bonds, particularly U.S. Treasuries.
However, Donald Trump’s return to the White House has prompted a global reassessment of U.S. asset safety, Federal Reserve independence, and the nation’s deteriorating fiscal health. Combined with Trump’s challenges to the judicial system and the potential economic fallout from his trade policies, gold’s strategic importance is being reevaluated.
Since Trump’s victory over Democratic rival Kamala Harris in November, gold prices have climbed 32.3% from a low of $2,536.71 per ounce, hitting a record high of $3,500.05 on April 22 before settling at $3,357.08 on Wednesday (July 3).
While short-term fluctuations remain news-driven, the broader macroeconomic backdrop remains supportive. A World Gold Council (WGC) survey of 73 central banks last month found that 95% expect official sector gold holdings to increase over the next 12 months—a 17% jump from 2024 and the highest level since the survey began in 2019.
Notably, central banks are accelerating efforts to repatriate gold reserves from the U.S., signaling eroding confidence in Trump-era policies and U.S. assets. If more non-U.S. governments, fund managers, and private investors conclude that the era of American exceptionalism is ending—and with U.S. fiscal deficits worsening—gold could emerge as one of the few viable alternatives to Treasuries.
At the 2024 Mining Indaba conference, Heymann of the WGC argued that gold’s “critical” status depends on perspective. “If measured by its ability to foster community development, financial inclusion, and long-term economic security in mining regions, gold absolutely qualifies as a critical metal,” he said.
Citing Barrick’s Kibali mine in the Democratic Republic of Congo as an example, Heymann highlighted how gold mining has delivered electricity, schools, and roads while generating jobs and economic spillover effects. “Mining companies aren’t just taxpayers—they catalyze sustainable regional growth through supply chains,” he noted.
As global economic uncertainty grows, gold’s safe-haven appeal may strengthen further. Should investors allocate more heavily to gold as a core asset, mining stocks could benefit over the long term.
