Newmont Mining's stock surged 5.01% during intraday trading on Tuesday, significantly outperforming the broader market.
The rally in the gold mining giant's shares tracked a sharp increase in the price of the underlying commodity. Spot gold was up 1.4%, hitting its highest level in over a week, which directly benefits producers like Newmont.
The move was part of a broader sector gain, with other major gold miners including Barrick Gold, Gold Fields, and AngloGold Ashanti also trading higher during the session.
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