Gold prices recovered by $20 to cross the $1,200 per troy ounce mark for the first time in more than two weeks on Tuesday as the U.S. dollar weakened and drove investors toward the precious metal.
Gold futures for December delivery climbed 1.71% to hit an intraday high of $1,204.10 per troy ounce, the highest price since October 30, on the Comex division of the New York Mercantile Exchange.
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Silver futures rose 0.55% to $16.145 per ounce.
More than 5.8 million shares changed hands as of 3:17 p.m., compared to the average daily volume of 2,286,030.
Separately, TheStreet Ratings team rates MCEWEN MINING INC as a "sell" with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate MCEWEN MINING INC (MUX) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. Among the areas we feel are negative, one of the most important has been a generally disappointing historical performance in the stock itself."