Goldcorp Inc. (USA) (GG), Barrick Gold Corporation (USA) (ABX): Stocks Rose, But Gold Shined Even Brighter

Platinum-group metals also joined in on the fun, with platinum soaring $49 per ounce, to $1,484, while palladium was up $14 per ounce, to $736. In earnings news, platinum-group metal producer Stillwater Mining Company (NYSE:SWC) reported a loss of $0.04 per share, but interim CEO Terry Ackerman blamed the loss on some one-time expenses related to accelerated incentive vesting and a recent proxy contest. With those two metals getting the bulk of their industrial use in the automotive sector, continued strength from automakers could support prices, even if gold and silver resume their recent declines. Stillwater rose 3% on the day.

Where will gold go from here?
Despite today’s strength, the precious metals markets remain vulnerable to comments from the Federal Reserve and other central banks about the status of measures to stimulate economic growth. If accommodative monetary policy disappears, then it could create another leg down for gold and its white-metal counterparts.

The article Stocks Rose, But Gold Shined Even Brighter Today originally appeared on Fool.com.

Fool contributor Dan Caplinger has no position in any stocks mentioned. You can follow him on Twitter @DanCaplinger. The Motley Fool has no position in any of the stocks mentioned.

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