Why Are These Five Stocks Gaining Ground on Wednesday?

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Barrick Gold Corporation (USA) (NYSE:ABX), Yamana Gold Inc. (USA) (NYSE:AUY), and  Gold Fields Limited (ADR) (NYSE:GFI) are rallying as gold spot prices are up almost 1% in early morning trade. There might not be any inflation in the world, but there is a large amount of uncertainty. Some investment analysts predict a 50% probability of a global recession if China continues to slow. Deleveraging is still ongoing and Europe and Japan are still doing quantitative easing.

According to our data, hedge funds were bullish on Barrick Gold Corporation (USA) (NYSE:ABX) in the second quarter. A total of 42 funds reported stakes worth $1.64 billion (representing 13.20% of the float) in the latest round of 13F filings, versus 41 funds and $1.41 billion respectively a quarter earlier.

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Disclosure: None

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