Sibanye Stillwater (SBSW) Soars 9.6% on Gold Rush

We recently published Big Winners: 10 Stocks Refusing to take a Holiday. Sibanye Stillwater Limited (NYSE:SBSW) is one of the last week’s best performers.

Sibanye Stillwater jumped by 9.6 percent week-on-week, as investors loaded portfolios in mining firms after gold prices soared to a new record high.

On Friday, December 26, the spot prices of gold surged by 1.20 percent to $4,533.21, as funds shifted to safer assets to mitigate risks from macroeconomic uncertainties, while digesting President Donald Trump’s comments that the next central bank chairman should lower interest rates if markets are doing well.

Image by Csaba Nagy from Pixabay

Typically, precious metals benefit from lower rates as they tend to weaken the US dollar, making it cheaper for foreign investors to buy silver and gold.

This year alone, the Federal Reserve has already trimmed benchmark rates three times, and traders are expecting two more cuts in the next open market committee meetings.

In other news, Sibanye Stillwater Limited (NYSE:SBSW) earlier this month said that it has successfully reached a new wage deal with employees at its mining site in South Africa following three years of negotiations.

Effective for three years from July 1, 2025, to June 30, 2028, Category 4 to 8 employees, as well as miners, artisans, and officials, will receive an increase of 4.5 percent in year 1; 4.8 percent in year 2; and 5 percent in year 3 of the agreement.

“We would like to acknowledge organized labor for the constructive dialogue and are pleased to have finalized a multi-year wage agreement that is fair for our employees while also providing stability and sustainability at the SA gold operations, aligning all stakeholders’ interests,” said Sibanye Stillwater Limited (NYSE:SBSW) CEO Richard Stewart.

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Disclosure: None. This article is originally published at Insider Monkey.