Five Precious Metals Miners Bucking Stock Market Downdraft
With gold and silver prices down Monday and the bulk of safe-haven investors opting for U.S. Treasuries instead of precious metals, shares of companies that mine for gold and silver were nearly all down along with the broader stock market.
But there were exceptions.
Among gold mining companies, Randgold Resources Ltd. jumped 1.9 percent, IAMGOLD Corp. rose 1.6 percent and Newmont Mining Corp. was up 1.4 percent.
IAMGOLD was gaining after reporting big gains in its Quebeca and West Africa operations and Newmont announced a higher dividend.
Among silver companies, Silver Wheaton Corp. was up 1.9 percent, Silver Standard jumped 2.3 percent.
The price of gold on the New York futures exchange was down 1.5 percent in midday trading, while silver on the New York futures exchange dropped 3 percent.
All thee major U.S. stock market exchanges were down more than 1 percent.
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