Tomi Kilgore
Shares of gold miners were broadly higher in afternoon trading
Tuesday, as worries about escalating U.S.-China trade tensions, data
showing a surprise contraction in the U.S. manufacturing sector and
uncertainty surrounding Brexit has helped fuel demand for safe-haven gold. The VanEck Vectors Gold Miners ETF
GDX, +1.69%
rallied 2.2% with 39 of 44
components gaining ground. Among the more active U.S.-listed shares,
Hecla Mining Co.
HL, +4.49%
hiked up 5.3%, Coeur Mining Inc.
CDE, +2.74%
climbed 2.7%, Newmont Goldcorp Corp.
NEM, +1.40%
advanced 1.9% and AngloGold Ashanti Ltd.
AU, +0.75%
tacked on 1.5%, while Harmony Gold Mining Co. Ltd.
HMY, -1.89%
lost 1.2%. Meanwhile, SPDR Gold Shares
GLD, +1.45%
rose 1.4% toward the highest close since April 2013, while continuous gold futures
GC00, +1.75%
gained 1.7%, also toward a 6
1/2-year high. The gold miners ETF has now soared 64.5% over the past 12
months, while the S&P 500
SPX, -0.97%
has slipped 0.2%.
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