Minning Shares Gain

Published on Monday, 09 November 2009 22:37 Written by Christopher Lynn

New York, Nov 9 (TradersHuddle.com) - Raw-material producers added 3.20% for the second biggest gain among 10 groups in the S&P 500.

Freeport-McMoRan (NYSE:FCX), the world’s largest publicly traded copper producer, increased 4.6% to $83.20 as copper gained for the first time in three days after the Dollar tumbled and the G20 nations pledge to continue with the stimulus, boosting speculation that the metal consumption will increase.




Barrick Gold Corp. (NYSE:ABX) rose 3.30% to $43. Newmont Mining Corp. (NYSE:NEM), the largest U.S. gold producer, increased 3.10% to $50.56. The precious metal surged to a record $1,111.70 an ounce as a weakening greenback prompted investors to increase bullion holdings as a store of value.