Which ASX gold share is the 'highest quality gold miner globally'?

Blackwattle says the world's best gold miner is listed on the ASX — and its share price is up 143% in 2025.

| More on:
gold, gold miner, gold discovery, gold nugget, gold price,

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Key points

  • Gold Price Continues to Soar: The gold price hit a fresh high of US$4,232 per ounce, driving ASX 200 gold shares higher, amid expectations of dovish US monetary policy and interest rate cuts.
  • Newmont Corporation Lauded as Top Gold Miner: Portfolio managers at Blackwattle Investment Partners highly regard Newmont Corporation as the world's best gold miner, highlighting its large size, low costs, and diversification, with significant growth expected beyond 2025.
  • Central Bank Demand Boosts Gold Prices: Both Blackwattle and Goldman Sachs attribute rising gold prices to central bank diversification away from US treasuries, with Goldman predicting the gold price to reach US$4,900 per ounce by December 2026.

ASX gold shares experienced another strong day of trading on Thursday as the gold price reached another fresh high.

At the time of writing, the commodity is trading at US$4,232 per ounce late on Thursday afternoon.

The gold price has lifted by US$232 per ounce in just six days after breaching the US$4,000 mark for the first time ever last week.

The gold price has risen by 15% in the past month alone.

The value of the yellow metal is now up 61% in the year to date and 57% over 12 months.

On Thursday, the S&P/ASX All Ords Gold Index (ASX: XGD) lifted 3% to a new record high of 17,709.7 points, up 107% in the year to date.

The S&P/ASX All Ordinaries Index (ASX: XAO) also hit a new record today after a big jump in unemployment raised hopes of an interest rate cut.

Trading Economics analysts said the gold price rose strongly today amid growing expectations of dovish US monetary policy ahead.

The analysts said:

Fed Chair Jerome Powell's recent remarks highlighting signs of a weakening labor market prompted investors to nearly fully price in a 25 bps rate cut at this month's meeting, with another likely in December.

The outlook also weighed on the dollar, making gold more attractive to foreign buyers.

So, it appears the gold rush that began in early 2024 ain't over yet.

If you want to get in on the action, Blackwattle Investment Partners says the world's best gold miner is listed right here in Australia.

Which ASX gold share is the best miner in the world?

Blackwattle portfolio managers, Tim Riordan and Michael Teran, reckon Newmont Corporation CDI (ASX: NEM) is the best global miner.

In their September Mid-Cap Quality Fund update, released today, the managers noted that Newmont shares rose by 16% in September.

The ASX gold share was the largest positive contributor to their Mid-Cap Quality Fund over the month.

Riordan and Teran said Newmont was the largest, lowest-cost, and most diversified gold miner in the world.

We continue to see material upside for NEM as an 'enduring high-quality' business and view NEM as the highest quality gold miner globally.

The managers described 2025 as a transition year for Newmont, with lower production levels amid increased investment in the legacy Newcrest portfolio. The company is also completing asset sales to raise the quality of its portfolio to high grade.

Beyond 2025, the managers see a bright future for Newmont.

… beyond 2025 we expect NEM to execute on numerous multiyear internal levers to maintain and improve the business quality including organic production expansion, operating cost reductions, material debt reduction & further capital returns.

This should allow NEM to deliver a higher quality, lower cost, diversified asset base in 2026-2027.

Riordan and Teran echoed analysis by Goldman Sachs that central bank purchases are pushing the gold price higher, with more to come.

The managers said:

In September gold prices rallied 11%, buoyed by the US Federal Reserve's rate cut and more dovish tilt.

This cyclical bounce is on top of the structural demand from Central Banks as they attempt to diversify their reserves away from US treasuries, which has seen gold prices more than double from the Russia-Ukraine War in 2022.

Last week, Goldman Sachs raised its short-term forecast for the gold price to US$4,900 per ounce by December 2026.

Newmont share price snapshot

The Newmont Corporation share price lifted 3.4% on Thursday to close at $145.77.

The ASX gold share hit a new all-time record of $146.66 per share in earlier trading.

Newmont shares are up 143% in the year to date and up 76% over the past 12 months.

Motley Fool contributor Bronwyn Allen has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Gold

An ASX 200 share investor runs and leaps over rows and rows of blocks, as they topple in his wake.
Gold

After today's 8% plunge, is Northern Star now a buy for gold investors?

Northern Star shares are sliding nearly 9% after a softer guidance.

Read more »

ASX 200 investor looking worried about her investment and share prices.
Share Market News

ASX 200 drops as lower unemployment raises the risk of an interest rate hike

New jobs data has enhanced fears of an interest rate hike to quell resurgent inflation.

Read more »

a woman wearing a sparkly strapless dress leans on a neat stack of six gold bars as she smiles and looks to the side as though she is very happy and protective of her stash. She also has gold fingernails and gold glitter pieces affixed to her cheeks.
Gold

With gold up 71%, which is the best ASX gold ETF to buy?

Investors are spoilt for choice when it comes to gold.

Read more »

A shocked man sits at his desk looking at his laptop while talking on his mobile phone with declining arrows in the background representing falling ASX 200 shares today
Gold

Pantoro shares plunge 10% today. What just happened?

Pantoro shares fall sharply despite a strong quarterly result and solid cash balance.

Read more »

Happy miner giving ok sign in front of a mine.
Gold

Up 222% in a year, $2.8 billion ASX 200 gold stock delivers 'very strong' fourth quarter

The ASX 200 gold miner is actively expanding its footprint in Africa.

Read more »

Man putting golden coins on a board, representing multiple streams of income.
Gold

This gold and copper producer is forecast to deliver double-digit returns

The cash is rolling in for this gold miner.

Read more »

An older female ASX investor holds a gangster-style fist pump pose showing off gold rings with dollar signs on them.
Gold

Why is this gold miner's share price heading higher today?

A positive prefeasibility study has been published.

Read more »

A few gold nullets sit on an old-fashioned gold scale, representing ASX gold shares.
Broker Notes

Up 300% since August, why this surging ASX gold stock could keep racing higher

A leading broker forecasts more strong outperformance from this rocketing ASX gold stock.

Read more »