On Friday morning, spot gold prices traded as high as $1,260 per ounce as investors look for safety in the precious metal.
Most of this morning's gains can be attributed to gold buying as the U.S. dollar is trading close to even against other major currencies. Over the last two and a half months, gold prices have advanced more than 10%, while major gold miners have topped those gains, even as the general markets have faltered. Goldcorp has advanced more than 16%, Barrick Gold has picked up a little more than 14%, Newmont Mining has gained more than 13% and AngloGold Ashanti has added 13% as well.
Leave a comment