Mining Stocks Follow Gold Prices Higher

NEW YORK (AP) â¿¿ Shares of some of the big mining companies rose Monday along with the price of gold.

Gold for December delivery climbed $6.90, or 0.4 percent, to finish at $1,616.20 an ounce. Silver and copper prices were higher too.

The market for gold might have been lifted by a decline in the dollar. The euro hit a one-month high against the dollar, to $1.2399 in late trading Monday.

Gold is often priced in dollars, so weakness in the dollar can boost demand for gold from dealers in other currencies.

Shares of Newmont Mining Corp. rose $1.46 or 3.3 percent, to close at $46.13. Barrick Gold Corp. gained 61 cents to end at $33.36. Randgold Resources Ltd. rose $2.40, or 2.7 percent, to close at $93.03. Yamana Gold Inc. rose 34 cents, or 2.3 percent, to finish at $15.12. Agnico-Eagle Mines Ltd. rose $1.16, or 2.7 percent, to close at $44.81.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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