AEM and NEM have been rallying up the charts
As the government shutdown stretches for a seventh day, gold prices just crossed the $4,000 mark for the first time ever. The safe-haven commodity has been stringing record highs amid political uncertainty, so now is a good opportunity to check with mining giants Agnico Eagle Mines Ltd (NYSE:AEM) and Newmont Corporation (NYSE:NEM).
AEM is down 2.3% to trade at $166.51 at last glance, taking a breather from yesterday's record high of $172.15. The stock is fresh off a seventh consecutive weekly gain amid long-term support from its 20-day moving average, and has amassed an impressive 113.8% lead for 2025.
Newmont stock is cooling off from an all-time peak as well, last seen down 1.9% to trade at $86.80 after surging to $89.37 in the previous session. While the security is now on track to snap its four-day win streak, it is sitting comfortably above all key moving averages. Plus, NEM sports a 133.6% year-to-date gain.
Both equities are sporting attractively priced premium, making this is an excellent time to weigh on their next moves with options. This is per AEM and NEM's Schaeffer's Volatility Index's (SVI) of 37% and 39%, which rank in the 18th and 26th percentile of readings from the past 12 months, respectively. In other words, options traders are pricing in low volatility expectations.