Stock Track | Equinox Gold Corp. Soars 5.04% as Gold Prices Surge Past $4,180/Oz

Stock Track11-13

Equinox Gold Corp. (EQX) shares are soaring 5.04% in intraday trading, riding the wave of a broader rally in gold stocks. This surge comes as spot gold prices climb above $4,180 per ounce, driven by expectations of a more dovish Federal Reserve policy.

The precious metals market received a boost following news of Federal Reserve official Raphael Bostic's retirement, which U.S. stockbroker Peter Schiff suggests could lead to the appointment of a more dovish successor. This development has weakened the U.S. dollar, consequently pushing gold prices up by over $53.

Equinox Gold's rally is part of a sector-wide trend, with other major gold miners also posting significant gains. Harmony Gold and Anglogold are up around 5%, while Barrick Mining has risen over 4%, and Newmont Mining has gained more than 3%. As a mid-tier gold producer, Equinox Gold Corp. is benefiting from the positive sentiment surrounding gold as investors seek safe-haven assets amidst expectations of potential changes in monetary policy.

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