Gold Miner Shares Surge as Bullion Prices Hit Record High of $5,100/oz

Gold miner shares surged in premarket trading on Monday as bullion prices hit a record high of $5,100/oz. Shares of top miners Newmont and Barrick Mining rose 4.4% and 3.8%, respectively, while South African miners Gold Fields and AngloGold Ashanti climbed between 2% and 4.3%. The higher gold price environment typically boosts miners' revenues and margins, strengthens cash flows and balance sheets, and gives companies more room to fund expansion, dividends, or debt reduction.