On July 14, Barrick Mining rose 3.85% in regular trading, trading at $37.18/share, with turnover of $91.08 million. The rally was driven by continued structural gold purchasing by global central banks, providing broad support to the precious metals sector.
China's central bank has now increased its gold reserves for 20 consecutive months, with holdings reaching 75.44 million ounces by end of June, up 480,000 ounces month-over-month. A World Gold Council survey revealed that 89% of reserve managers expect global central bank gold reserves to continue rising over the next 12 months, while Asian buyers have emerged as the core force supporting gold prices even as Western ETF flows remain weak. Goldman Sachs has maintained its year-end gold price target of $4,900, citing emerging market central bank accumulation and fiscal concerns as long-term bullish catalysts.
Within the Gold sector, the overall performance was strong. Among individual stocks, Coeur Mining up 5.04%, Newmont Mining up 4.46%, Anglogold Ashanti up 3.17%, Agnico Eagle Mines up 3.14%, Wheaton Precious Metals up 2.92%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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