RGLD - Gold miners resume upward climb on new Ukraine tensions

Newmont (NEM +4.7%) tops the S&P sector leaderboard as April Comex gold (XAUUSD:CUR) closed +1.6% at $1,902/oz., the highest for a most-active contract since last June, following news reports of mortar fire in eastern Ukraine. Among other major gold producers: GOLD +4.8%, AU +4.4%, IAG +4.8%, AEM +8.2%, AUY +4.7%, EGO +6.6%, FNV +4.3%, RGLD +8.1%, BTG +3%, NGD +4.6%, NG +4.4%, GORO +6.7%. However, Kinross Gold (KGC -1.8%) trades lower after cutting production guidance. ETFs: GDX, GLD, IAU, NUGT, PHYS "The Ukraine crisis has given extra momentum to bullion bulls who had been gravitating towards gold as an inflation hedge, evidenced by the recent surge of inflows into bullion-backed ETFs," according to Exinity analyst Han Tan. "Not only do the events on the Ukrainian border have investors seeking out safe-havens, but [gold] also offers inflation protection at a time of surging prices and the prospect of higher oil and

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Gold miners resume upward climb on new Ukraine tensions