On July 21, Barrick Mining rose 3.07% in regular trading, trading at $36.015/share, with turnover of $80.89 million. The gold sector saw broad-based strength driven by a confluence of macro tailwinds.
On the news front, U.S. June CPI and PPI data both came in below market expectations, significantly reducing bets on a Fed rate hike in July and supporting international gold prices at elevated levels. Additionally, the People's Bank of China increased gold reserves by approximately 15 tonnes in June, marking the 20th consecutive month of purchases and setting the longest continuous accumulation streak on record, providing long-term structural support for gold prices.
Meanwhile, the company announced it has agreed to subscribe for 15,470,934 units of Kingfisher Metals Corp., further expanding its exploration portfolio. Within the Gold sector, peers also gained broadly, with Coeur Mining up 5.26%, Pan American Silver up 4.2%, Wheaton Precious Metals up 3.92%, Newmont Mining up 2.99%, and Agnico Eagle Mines up 2.19%.
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