✎ Contributed by Ty Griffin
Gold prices extended their quarter-to-date rally on July 1, underpinned by a softening U.S. dollar and renewed optimism around global trade. With roughly a 5% gain this quarter, investors are flocking back to safe-haven assets amid macroeconomic and geopolitical uncertainties.
Analysts highlight key support factors for the sector: central bank buying, steady production costs, and favorable currency dynamics—all helping gold stocks outperform.
Market Reaction
- Newmont Corp. (NYSE: NEM): $58.52, up $0.26 (0.45%)
- Barrick Mining Corp. (NYSE: GOLD): $20.92, up $0.10 (0.48%)
- Agnico Eagle Mines Ltd. (NYSE: AEM): $117.64, down $1.29 (1.09%)
- Franco‑Nevada Corp. (NYSE: FNV): $163.84, down $0.08 (0.05%)
- Wheaton Precious Metals Corp. (NYSE: WPM): $89.76, down $0.04 (0.04%)
Investor Insight
Newmont led the rally, while Barrick showed modest gains during the session. Profit-taking in mid-tier names like Agnico may reflect recent momentum in the group. Franco‑Nevada and Wheaton showed steadier performance, suggesting defensive shifts among investors. Bulls argue that persistent dollar weakness and anticipated Fed rate cuts could continue to lift gold equities—especially those with efficient cost structures.
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