Why Alamos Gold, Gold Fields, Endeavour Silver, AngloGold Ashanti, and More Precious Metals Stocks Rallied Today
Shares of precious metals miner Alamos Gold (NYSE: AGI) rose as much as 11% at one point on Jan. 19. Posting even stronger gains were Endeavour Silver (NYSE: EXK), AngloGold Ashanti (NYSE: AU), Gold Fields (NYSE: GFI), and SilverCrest Metals (NYSEMKT: SILV), which reached peaks of around 12%, 12.5%, 13%, and 13.5%, respectively. All were still fairly close to their daily highs at roughly 3:30 p.m. ET.
There wasn't any particular news out of the companies that would have precipitated these across-the-board stock gains. That said, AngloGold Ashanti did announce it had completed the acquisition of Corvus Gold on Jan. 18. But that really had little to do with today's stock pop. The reason for the broad price moves for these gold and silver miners, and many others, was much bigger.
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