On August 4, Newmont Mining rose 3.08% in regular trading, trading at $98.36/share, with turnover of $229 million. The broad gold mining sector rallied as gold prices held firm above $4,100/oz, supported by robust central bank demand and a weakening U.S. dollar.
On the news front, the World Gold Council reported that Q2 global central bank net gold purchases surged 62% year-over-year to a record 289 tons, led by Poland and China. Meanwhile, the Fed held rates steady at 3.5%-3.75% for the fifth consecutive meeting without signaling near-term cuts, while the U.S. dollar index softened to around 100.10. Ongoing Middle East geopolitical tensions continued to underpin safe-haven demand. Within the Gold sector, the rally was broad-based: Coeur Mining rose 5.56%, Equinox Gold gained 3.98%, Wheaton Precious Metals added 3.25%, Agnico Eagle Mines climbed 3.11%, and Barrick Mining advanced 2.77%.
(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.)
Comments