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adirondackon Jun 20, 2014 2:59pm
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Post# 22680738
Gold Price Breakout Sparks Massive Move Into Mining Stocks
Gold Price Breakout Sparks Massive Move Into Mining Stocks Gold Price Breakout Sparks Massive Move Into Mining Stocks
Frik Els | June 19, 2014
Mining.com
https://www.mining.com/gold-price-breakout-sparks-massive-move-into-gold-stocks-84560/?utm_source=digest-en-mining-140619&utm_medium=email&utm_campaign=digest
a surprise move after months of subdued trade, the gold price jumped more than $48 or nearly 4% an ounce on Thursday, its best trading performance since September last year.
Gold ended the day at its high of $1,320 an ounce on Thursday, fighting back from lows of $1.244 at the beginning of this month. The metal is up 10% in value this year. The silver price jumped nearly 5%, climbing back above $20 an ounce for the first time in two months. Gold's positive momentum sparked heavy buying of gold counters with the Market Vectors Gold Miners ETF (NYSEARCA:GDX), holding stock in the world's top gold miners, soaring 5.4% bringing its gains so far this year to 23.5%.
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