Gold miners rise as bullion prices touch two-week highs
GLD•U.S.-listed gold miners rose before the market open as spot gold gained 1.9% to $4,136.60 an ounce, its highest since October 22. Newmont rose 2.5%, while Gold Fields gained 1.8% to 6.3%.
1. Miners advance
U.S.-listed shares of South African miners Gold Fields, AngloGold Ashanti and Harmony Gold gained between 1.8% and 6.3%. Kinross Gold rose 2.3%, Agnico Eagle Mines gained 2.6%, Newmont advanced 2.5% and Barrick Mining rose 2.1%. Sibanye Stillwater gained 5.1%, while the SPDR Gold Shares ETF rose 1.7%.
2. Bullion reaches high
Spot gold rose 1.9% to $4,136.60 an ounce, touching its highest level since October 22. Gold extended its post-U.S. midterm election rally as the U.S. dollar and Treasury yields weakened, while a sharp drop in oil prices eased inflation concerns.
