US Stock Market Move | Gold sector rises across the board, spot gold broke through the $4,000 mark yesterday for the first time.

On Wednesday, stocks in the gold sector rose. As of the time of writing, GoldMining (GLDG.US) surged over 11%, Coeur Mining, Inc. (CDE.US) rose over 3%, Gold Fields Limited Sponsored ADR (GFI.US) rose nearly 3%, and Harmony Gold Mining Co. Ltd. Sponsored ADR (HMY.US) rose over 2.8%. The spot gold price broke through $4000 per ounce for the first time yesterday. With global trade prospects, Federal Reserve independence, and US fiscal stability being questioned, the price of gold has risen by over 50% this year. At the same time, political tensions have boosted safe-haven demand, and central banks around the world continue to increase their gold holdings at a faster pace. As investors seek ways to hedge potential market turmoil after the US government funding deadlock, the urgency for gold price rises has become more apparent. Meanwhile, the monetary easing cycle initiated by the Federal Reserve has provided support for gold, which itself does not generate interest. Investors are flocking to gold-related exchange-traded funds (ETFs), with ETFs backed by physical gold recording the largest monthly inflow in over three years in September.