Gold closes out another week at all-time highs above $2,300 per ounce. Demand remains high after a March jobs report came in hotter than predicted.
The bullion exhibited an impressive resilience this week, diverging from its typical sensitivity to interest rate concerns.
Gold marked its sixth week of gains in the past seven, rallying by 4% despite warnings from multiple Fed speakers that rate cuts might not materialize as swiftly as anticipated by the market.
Gold also showcased a notable 1.5% gain for the session, underscoring its impressive strength and resilience despite traditional macro headwinds for precious metals.
As the price of gold surges to unprecedented heights, mining stocks are experiencing a bullish wave not witnessed in quite some time.
The VanEck Gold Miners ETF (NYSE:GDX) has notched eight positive sessions out of the past nine, surging to peaks last seen in May 2023.
Newmont Corp. (NYSE:NEM) — the world's biggest gold miner and the GDX's heavyweight — has surged over 10% this week, showcasing the most robust performance among S&P 500 stocks and its best week in 13 months.
Chart: Newmont Notches Top-Performing Week Since March 2023
This Week's Top-Performing S&P 500 Stocks
Company Name
Price Change % (5D)
Newmont Corporation
10.67%
Marathon Petroleum Corporation (NYSE:MPC)
8.99%
Meta Platforms, Inc. (NASDAQ:META)
8.31%
Valero Energy Corporation (NYSE:VLO)
7.70%
NRG Energy, Inc. (NYSE:NRG)
7.70%
Occidental Petroleum Corporation (NYSE:OXY)
6.97%
Western Digital Corporation (NYSE:WDC)
6.84%
This Week's Top Performing Gold And Silver Mining Stocks
Company Name
Price Change % (5D)
First Majestic Silver Corp. (NYSE:AG)
32.57%
Coeur Mining, Inc. (NYSE:CDE)
29.18%
Fortuna Silver Mines Inc. (NYSE:FSM)
26.01%
Calibre Mining Corp. (NYSE:CXB)
18.56%
Pan American Silver Corp. (NYSE:PAAS)
16.55%
MAG Silver Corp. (NYSE:MAG)
14.70%
Hecla Mining Company (NYSE:HL)
14.66%
Emerald Resources NL (NYSE:EMR)
13.65%
K92 Mining Inc. (NYSE:KNT)
13.49%
Aya Gold & Silver Inc. (NYSE:AYA)
12.95%
Read Now: DeSantis Furious As Legal Weed, Abortion Rights Move Toward November Ballot, Calls Amendments 'Radical,' 'Confusing' For Voters
