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Gold rally lifts gold miners, with GDX up 21% in five days
Bullion rose more than 2% on Friday to about $4,353 an ounce, and the TSX Venture Composite Index gained 8% over the week as juniors outperformed larger peers.
Gold mining stocks logged one of their strongest weeks in years as bullion climbed to its highest level since mid-June, according to Mining.com. Benchmark gold miner funds gained sharply, with the VanEck Gold Miners ETF (GDX) rising 21.09% over five days to $89.73 shortly after midday in New York, and the VanEck Junior Gold Miners ETF (GDXJ) up 22.42% to $116.78.
Major producers advanced alongside the funds. Agnico Eagle Mines added 22.92% over the five-day period to C$250.17 in Toronto, Newmont rose 20.55% to $112.97 in New York, and Barrick Mining climbed 19.22% to C$61.34.
Mining.com also pointed to gold’s sensitivity for miners, noting that revenue can rise quickly when bullion advances while costs often adjust more slowly, which can magnify earnings expectations and valuation changes. Gold jumped more than 2% on Friday to about $4,353 an ounce, hitting a roughly two-month high after weak US employment data accelerated a rally that had been building through the week, Mining.com said.
Junior miners led larger peers, a pattern the outlet linked to sharper operational leverage during rapid gold moves. The TSX Venture Composite Index, which has heavy exposure to small-cap juniors, gained 8% during the week, while copper miners participated but lagged, with the Global X Copper Miners ETF (COPX) up 12% over the same five-day stretch.
Latest closeGold $4,292.00 ▲1.1%|Copper $6.711 ▲0.1%