Shares of gold miners climbed as gold prices ended the U.S. day session sharply higher, near intraday high and marked a new seven-week high Thursday. The rally was attributed to mixed U.S. data that kept expectations going for many that the Federal Reserve may wait until December to begin tapering stimulus measures as opposed to September.
The demand for the metal as a safe-haven investment increased after the sell- off in the U.S. stock market and the escalation in violence in Egypt. Technical buying was also featured. The gold bulls also got some fuel after the U.S. dollar index also sold off sharply around midday.
More recently on Friday, gold was down as the U.S. dollar firmed and investors were keeping their eyes on housing starts report for July and consumer sentiment index.
The metal was still heading for its best weekly rally in a month as investors continued to cover short positions and on strong physical appetite from China.
The share price of Banro Corporation (USA) (NYSEMKT:BAA) gained +5.33% during last trading day, ending at $0.990. At last finishing price, the company has a market cap of $249.61 billion.
The share price of Kinross Gold Corporation (USA) (NYSE:KGC) gained +4.84% during last trading day, ending at $6.06. At last finishing price, the company has a market cap of $6.92 billion.
The share price of Harmony Gold Mining Co. (ADR) (NYSE:HMY) gained +4.59% during last trading day, ending at $4.33. At last finishing price, the company has a market cap of $1.88 billion.
The share price of Newmont Mining Corp (NYSE:NEM) gained +4.01% during last trading day, ending at $33.22. At last finishing price, the company has a market cap of $16.53 billion.
The share price of Gold Fields Limited (ADR) (NYSE:GFI) gained +3.66% during last trading day, ending at $6.52. At last finishing price, the company has a market cap of $4.79 billion.
The share price of Randgold Resources Ltd. (ADR) (NASDAQ:GOLD) gained +3.08% during last trading day, ending at $79.29. At last finishing price, the company has a market cap of $7.31 billion.
