US Stock Market Move | Gold stocks initially rose, with Hecla Mining Company (HL.US) increasing over 7%.

On Monday, US gold mining stocks rose in early trading, with Hecla Mining Company (HL.US) up over 7%, Harmony Gold Mining Co. Ltd. Sponsored ADR (HMY.US) up over 6%, Eldorado Gold Corporation (EGO.US) up over 4%, Gold Fields Limited Sponsored ADR (GFI.US), and Newmont Mining Corporation (NEM.US) up over 3%. In terms of news, spot gold rose 2% during the day to reach $4090 per ounce, hitting a new historical high. Zhao Yaoting, global market strategist at Shun Global Markets in Asia-Pacific, stated that despite gold reaching historical highs and moving away from traditional valuation drivers such as the US dollar and real interest rates, and despite its seemingly high price, there is still a possibility for the upward trend to continue.