Gold miners surge in 2025 as bullion heads for biggest annual gain since 1979

U.S.-listed shares of gold miners on course to end 2025 in the green, tracking rise in bullion GOL/

Spot gold XAU= up more than 60% this year, its largest annual gain since 1979

Shares of top miners: Newmont NEM.N up ~174% YTD, set for first annual gain after three consecutive years of losses; Barrick Mining ABX.TO up ~185% YTD

U.S.-listed shares of South African miners: Gold Fields GFI.N up ~234% in 2025; Harmony Gold HMY.N gains ~144% YTD; Sibanye Stillwater SBSW.N up 342% this year, after four straight annual losses

U.S.-listed shares of Canadian miners: Agnico Eagle Mines AEM.N AEM.TO and Kinross Gold KGC.N K.TO on course for third straight annual gain, up ~119% and ~208%, respectively

Miners' shares fall between 0.2% and 1.2% premarket on Wednesday

Bullion slips 0.4% to $4,329.12 per ounce as of 07:56 GMT, a two-week low after hitting a record high of $4,549.71 on Friday