The stock market got off to a good start on Monday morning, with only the Dow Jones Industrial Average (DJINDICES: ^DJI) holding back investors from celebrating solid gains toward record highs. Both the S&P 500 (SNPINDEX: ^GSPC) and the Nasdaq Composite (NASDAQINDEX: ^IXIC) flirted with unprecedented levels. Just after 11 a.m. EDT, the Dow was down 38 points to 27,893, but the S&P 500 climbed 11 points to 3,384, and the Nasdaq was up 75 points to 11,094.
The big gains for the day came from the gold market, where a recent run to all-time highs for the yellow metal has spurred greater interest. Over the weekend, it became evident that the gold mining sector is becoming a target even for value investors who might typically have avoided the industry entirely. That got market participants even more excited about gold stocks, whose shares climbed sharply Monday morning.
Gains for gold stocks were widespread. Leading the way was Barrick Gold (NYSE: GOLD), which gained more than 11%. However, other big mining stocks fared well, including Newmont (NYSE: NEM) and its 5% gain. The Van Eck Vectors Gold Miners ETF (NYSEMKT: GDX) posted a nearly 6% gain.