Silver is also shining along with gold as a "cheaper" hard currency. Prices have rallied to 30-year highs settling up 68 cents to $27.43 while copper was flat at $3.95.
Both metals were stronger after the Labor Department said Friday that 151,000 jobs were added in October, which was better than expected. The news along with strong corporate earnings have painted a modestly optimistic picture of a global economic recovery, which means more demand for industrial metals.
Gold mining stocks, a risky but profitable way to buy gold, were rising Monday. Freeport McMoRan Copper & Gold (FCX - Get Report) was up 0.27% to $105.10 while Yamana Gold (AUY - Get Report) was 0.94% higher at $11.82. Other gold stocks New Gold (NGD - Get Report) and Gold Fields (GFI - Get Report) were trading at $8.70and $17.10, respectively.
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