Gold mining stocks are experiencing a surge on December 20, 2024, driven by several key developments in the sector. North Bay Resources Inc. announced the arrival of 42 tons of gold ore from its Fran Gold Project in British Columbia to its Bishop Gold Mill in California. This shipment, along with an expected additional 21 tons, has bolstered investor confidence in the company's production capabilities. Furthermore, Franco-Nevada's $500 million streaming deal with Sibanye-Stillwater for its South African mining operations has added to the positive sentiment, highlighting robust investment and expansion activities within the gold mining industry.
The MicroSectors Gold Miners 3x Leveraged ETN (GDXU) has risen to $29.20, marking a 6.18% increase from the previous close.