Gold Fields (GFI) surged 5.13% intraday on Tuesday, mirroring the broader rally in precious metals shares. The stock's rise was part of a sector-wide uptick, with peers like Helca Mining and Harmony Gold also posting significant gains.
The rally was fueled by rising spot gold and silver prices, with gold climbing 0.85% to $4,485.5 per ounce. Morgan Stanley's bullish forecast for gold, predicting a rise to $4,800 per ounce by year-end, further bolstered investor sentiment. The bank cited falling interest rates, Federal Reserve leadership changes, and strong central bank buying as key drivers.
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