Gold mining company Gold Fields (GFI.US) announced that its annual profit is expected to have surged by nearly three times, benefiting from record-setting gains in gold prices. The company stated on Friday that it projects earnings per share for 2025 to range between $3.87 and $4.11, representing an increase of 178% to 196% compared to the previous year. This substantial growth is attributed to the combined effects of a significant rise in gold prices and an increase in gold sales volume. Last year, driven by geopolitical instability, investors flocked to safe-haven assets, pushing gold prices up by nearly 65%. Gold prices continued to climb this year, reaching an all-time high of nearly $5,600 on January 29 before partially retracing some of those gains. Gold Fields, which operates mines in Australia, Chile, Ghana, Peru, and South Africa, reported total gold production of 2.4 million ounces last year, an 18% increase from 2024. The company is scheduled to release its full annual financial results later this month.