Precious metals and oil & gas exploration & production stocks lead sector gains on Friday.

Precious metals shares led the market on Friday, rising by 2.6% with New Found Gold up 12.4% and TRX Gold up 7%. Oil & gas exploration & production shares also rose, up 2.3% with Amplify Energy up 8.7% and Houston American Energy up 6.4%. These sectors showed relative strength on the day.

Precious metals shares led the market on Friday, rising by 2.6% with New Found Gold up 12.4% and TRX Gold up 7%. Oil & gas exploration & production shares also rose, up 2.3% with Amplify Energy up 8.7% and Houston American Energy up 6.4%. These sectors showed relative strength on the day.

New Found Gold's shares surged after the company announced a significant high-grade gold discovery at the Iceberg zone in Newfoundland. The channel sampling turned up 185 meters of continuous, high-grade gold, confirming prior drilling wins and supporting Queensway's early production ambitions. This discovery has boosted investor confidence, with New Found Gold's shares closing up 2% to $2.97 New Found Gold Strikes High-Grade Gold Near Surface At Queensway^[2].

Similarly, TRX Gold also saw a substantial increase in its share price. The company's exploration activities and recent drilling results have been positive, contributing to the overall market sentiment.

In the oil & gas sector, Amplify Energy and Houston American Energy reported gains. Amplify Energy's shares rose 8.7%, while Houston American Energy's shares increased by 6.4%. These gains are likely due to the sector's overall performance and the companies' positive exploration activities.

These sector-specific gains reflect a broader trend of investor confidence in the exploration and development of natural resources. As the world continues to experience economic uncertainty, precious metals and oil & gas remain attractive investment options. The resilience of gold prices and the discovery of high-grade gold in Newfoundland further support this trend.