Gold Stocks Up Pre-Bell After Gold Prices Top $4,000 for First Time
MT Newswires Live
Oct 08
Gold stocks were up in recent premarket activity Wednesday after gold prices rose above $4,000 for the first time Tuesday.
Newmont (NEM), AngloGold Ashanti (AU), Coeur Mining (CDE), Seabridge Gold (SA), and Blue Gold (BGL) were among the stocks showing sizable gains pre-bell.
Gold for December delivery was last up 1.6% at $4,069.80 per troy ounce. Spot gold gained 1.5% to $4,046 an ounce.
Gold prices are buoyed by investor hedging against economic and political risks amid expectations of more interest rate cuts from the Federal Reserve. In addition to an ongoing US federal government shutdown, political shakeups in France and Japan are fueling fiscal concerns, ING Bank said Tuesday.
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