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Markets · Investing · Business
Finance
Why Goldgroup Mining Stock Soared on Wednesday
Precious metals were having a good day, thanks to renewed hope that the Fed won't be as eager to raise interest rates.
Precious metals prices jumped higher on Tuesday, and many stocks tied to these commodities rose in sympathy. One notable example was Goldgroup Mining(NYSEMKT: GORO), a Canadian company that focuses on everyone's favorite yellow metal. Its shares closed the day's trading session nearly 8% higher.
Gold, silver, and other high-value metals have been volatile so far this year, and on Tuesday, they moved in the right direction. As of late afternoon, the spot gold price had crept up by more than 1%, reversing a general slump that had been in effect across the preceding days.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.
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