Precious metals mining shares jumped on Monday as the price of gold surged to yet more record highs.
On the FTSE 100, Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF) rose 5.2% to 2,980p, and Fresnillo PLC (LSE:FRES) 4.4% to 2,376p, while on the FTSE 250 Hochschild Mining PLC (LSE:HOC, OTCQX:HCHDF) leapt 9.1% to 343p.
This followed the gold price’s ascent to $3,725 an ounce on Monday morning, up 1.2% on the day, rising $85 over a week, over $350 higher or 11% during the past month and rising from $2,650 at the start of the year.
Analyst John Meyer at SP Angel linked gold’s surge this week to buying by ETFs jumping 800,000 oz since Friday, along with strong uptake from Indonesian buyers and a warning from hedge fund guru Ray Dalio about global debt pressure undermining major currencies.
Investors should hold 10% of their funds in gold, said Dalio at the FutureChina Global Forum 2025 on Friday, warning of a…
