Gold has had a textbook rally following the tumultuous week in the U.S. banking sector and heavy drops in Fed hike expectations as recession risks loom.
On Friday, gold surged 2% beyond $1,950/oz levels, putting it on track for a 6% weekly gain, its largest since early November 2022.
Direxion Daily Gold Miners Index Bull 2X Shares (NYSE: NUGT) gapped up 3.4% higher on Wednesday, where the ETF ran into a group of sellers who knocked it down over 4% from the open.
Barrick Gold (NYSE:GOLD) reported quarterly earnings of $0.13 per share which beat the analyst consensus estimate of $0.12 by 8.33 percent. This is a 62.86 percent decrease over earnings of $0.35 per share from the same