Harmony Gold Mining's stock surged 5.06% intraday on Monday, outperforming the broader market as geopolitical tensions following the US capture of Venezuelan leader Nicolás Maduro drove demand for safe-haven assets like gold.
The precious metals sector rallied broadly, with spot gold rising as much as 2.38% to over $4,433 an ounce. Analysts attributed the gains to heightened geopolitical uncertainty, as President Donald Trump's announcement of plans to "run" Venezuela raised concerns about the country's future governance and oil reserves.
Gold mining stocks, including Harmony Gold, benefited from the rally, with investors flocking to assets perceived as safe during times of geopolitical instability. The sector has also been supported by expectations of further rate cuts by the US Federal Reserve and long-term risks posed by mounting federal debt.
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