Skip to main content
The Markets by Proactive
Go to Proactive UK
Proactive UK has moved. Proactive’s coverage of London’s small caps continues on proactiveinvestors.com Go there →
Advertisement
The Markets
by Proactive
Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
Go to Proactive UK
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK
Advertisement
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK

Gold & silver

Gold miners climb higher as yellow metal breaches $3,600

Gold miners were back on the front foot on Monday as the price of the yellow metal surged to a new record high above $3,600 an ounce.

After climbing above $3,500 for the first time last week, the price of gold rose 0.7% to top $3,620 on Monday morning.

Over the past week, the price of the metal has risen 4%, up 16% since the start of April.

The gold price has added $1,000 since the start of the year, soaring over 38%.

"There has been a slew of factors supporting the gold price, including Trump’s attack of Fed independence and a meeting between major BRIC nations China, India and Russia," said metals analyst John Meyer at SP Angel.

"This coincided with additional buying from central banks, with China continuing to add and India boosting holdings in favour of US Treasuries."

Treasury yields were also pushed lower after US jobs data on Friday disappointed, raising expectations of Federal Reserve interest rate cuts.

"This has provided a supportive territory for gold prices, with ETF inflows continuing to edge higher," said Meyer.

Shares in precious metals miner Fresnillo PLC (LSE:FRES) were up 1.9%, one of the main risers on the FTSE 100, while Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF) was up 0.9%.

On the FTSE 250, Hochschild Mining PLC (LSE:HOC, OTCQX:HCHDF) was up 3.4%.

Since the start of the year, the trio's shares are up 233%, 86% and 52% respectively.

Advertisement
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK