Gold and argent shares began 2012 on a decidedly absolute note, as the Philadelphia Gold & Argent Index (XAU) climbed 4.0% to 187.77 in morning trading. In accomplishing so, the XAU – comprised of abounding of the world’s better adored metals companies – acquaint its best day back November 30, 2011.
Among gold producers, Agnico-Eagles Mines (AEM) and Randgold Resources (GOLD) were two of the top performers. AEM rose by 4.1% to $37.79 per allotment and GOLD by 5.0% to $107.19 per share.
Notable advancers amid argent companies included Argent Wheaton (SLW) and Argent Standard Resources (SSRI). SLW climbed by 4.3% to $30.20 per allotment and SSRI by 5.4% to $14.56 per share.
Gold and argent shares were propelled college by a aggregate of the metals themselves and the broader disinterestedness markets. COMEX gold futures surged 2.6% to $1,607.30 per ounce and argent jumped 6.0% to $29.59 per ounce. Adored metals accustomed a tailwind from weakness in the U.S. dollar, which fell 0.8% adjoin a bassinet of the world’s added arch authorization currencies.
With attention to the broader markets, the Dow Jones Industrial Average (DJIA) climbed 250.12 points, or 2.0%, to 12,467.68 and the S&P 500 Index avant-garde 25.06 points, or 2.0%, to 1,282.66. The assemblage coincided with a bashful abatement in broker accident aversion, as abstinent by a 3.2% bead in the CBOE Volatility Index (VIX) to 22.65.