Gold and silver stocks are generally rising. US gold companies are up more than 7%, First Majestic Silver is up over 6%, Harmony Gold, Vista Gold, and Jin Tian are up over 5%, Aya Gold & Silver and Coeur Mining are up nearly 4%, and Newmont Mining and Pan American Silver are up more than 3%.
Gold and silver stocks are generally rising. US gold companies are up more than 7%, First Majestic Silver is up over 6%, Harmony Gold, Vista Gold, and Jin Tian are up over 5%, Aya Gold & Silver and Coeur Mining are up nearly 4%, and Newmont Mining and Pan American Silver are up more than 3%.
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On the news front, spot gold surged more than 2% intraday, breaking through the $4,600/ounce mark; spot silver jumped more than 4%, returning above $73/ounce. Goldman Sachs remains firmly bullish on gold, stating that continued purchases by central banks and the expectation of two more Federal Reserve rate cuts this year will support gold's medium-term outlook, with prices expected to rise to $5,400/ounce by the end of the year. If geopolitical tensions worsen further or Western fiscal sustainability is impacted, gold prices could surge to $6,100.
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