Shares of gold and silver companies are having their best day since November 10, as the Philadelphia Gold & Silver Index (XAU) has climbed by as much as 2.2% to 225.46.
The strength in gold and silver shares has come amid a surge in precious metals, with gold bullion rallying $23.90, or 1.7%, to $1,406.80 per ounce, and silver surging $1.10, or 3.7%, to $30.35 per ounce.
With today’s gains, gold is within 1.8% of its $,1342.50 all-time high, while silver has risen to within 1.3% of its 30-year high of $30.75 per ounce.
Notable advancers in the gold and silver sector included XAU components AngloGold Ashanti (AU), Gold Fields (GFI), Randgold Resources (GOLD), Silver Standard Resources (SSRI). In afternoon trading AU, GFI, GOLD, and SSRI were higher by 2.0%, 1.5%, 3.1%, and 2.7%, respectively.
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