Here's Why Precious Metal Stocks Soared Higher Today
Shares of a number of the top precious-metals producers jumped higher on Friday as investors flocked to safe-haven assets, causing a spike in the price of gold and silver. The metals producers followed the commodity higher, with shares of companies including DRDGold (NYSE: DRD), Yamana Gold (NYSE: AUY), Iamgold (NYSE: IAG), Silvercorp Metals (TSX: SVM), and Americas Silver Corp (NYSEMKT: USAS) all climbing more than 8% on a day when the S&P 500 lost 2.59%.
Friday was a miserable day for equity markets, as stocks plunged in response to a fresh escalation in trade rhetoric and tariff threats between the U.S. and China. Before markets opened, China's Finance Ministry said it would be imposing tariffs on another $75 billion worth of U.S. goods, which it views as a retaliation to U.S. tariffs set to take effect Sept. 1. President Donald Trump responded on Twitter by calling on U.S. companies to "immediately start looking for an alternative" to doing business in China.
....all deliveries of Fentanyl from China (or anywhere else!). Fentanyl kills 100,000 Americans a year. President Xi said this would stop-it didn't. Our Economy, because of our gains in the last 2 1/2 years, is MUCH larger than that of China. We will keep it that way!
Source Fool.com
