Mining Shares Rise as Gold Prices Soar
By Nicholas G. Miller
Shares of mining companies continued to tick upward Wednesday, a day after gold prices climbed past $4,000 a troy ounce for the first time.
Coeur Mining surged 8.6% to $20.43 a share. Equinox Gold gained 5.5% to $12.10. Freeport-McMoRan lifted 5.3% to $42.85.
AngloGold Ashanti rose 3.6%. Newmont rose 2.1%. Agnico Eagle Mines and Allied Gold each ticked up 1.4%.
On Tuesday, gold prices reached a peak as anxiety about the stability of the global economy pushed central banks and investors to move their money into dollar alternatives including gold.
Gold prices have risen as President Trump moves to reorient the global economy. But gold began its most recent surge in August, when Fed Chair Jerome Powell indicated the central bank would begin cutting interest rates.
Central banks bought 415 tons of gold in the first half of 2025, according to the World Gold Council, while traders invested a record $33 million into U.S. exchange-traded funds linked to physical gold in September, according to Morningstar Direct.
Write to Nicholas G. Miller at nicholas.miller@wsj.com.
(END) Dow Jones Newswires
October 08, 2025 12:39 ET (16:39 GMT)
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