Freeport and Newmont Get a Boost. Why Mining Stocks are Rising.
The stock prices of large mining companies rallied early Wednesday, after The Wall Street Journal reported on a U.S.-drafted peace plan as the conflict with Iran continues. Shares of Freeport-McMoRan Royal Gold and Newmont all rose by 2.1%, 1.4% and 3.2%, respectively, early in the session. Continuous gold futures increased by 3.5% to $4,557.80 an ounce, while silver futures rose by 3.9%.
The stock prices of large mining companies rallied early Wednesday, after The Wall Street Journal reported on a U.S.-drafted peace plan as the conflict with Iran continues. Shares of Freeport-McMoRan Royal Gold and Newmont all rose by 2.1%, 1.4% and 3.2%, respectively, early in the session. Continuous gold futures increased by 3.5% to $4,557.80 an ounce, while silver futures rose by 3.9%.