Newmont rallies as gold prices extend their climb
+6.71% to $104.29 from $97.73
What moved NEM
- Gold rose for a third consecutive session, with spot gold up 1.4% to around $4,152.36 an ounce.
- The rally was attributed to lower oil prices and a softer U.S. dollar boosting gold’s appeal.
- Newmont’s advance was also linked to retreating real interest rates following a perceived shift in Federal Reserve policy, reducing the opportunity cost of holding non-yielding assets.
Sources: Bloomberg · Kalkine Media