Gold is garnering gains as stocks continue chopping along in negative territory. Gold was recently trading hands at $861.00 per ounce, up 1.3% this session. The yellow metal is now up 2.4% for the week.
Higher gold prices are helping propel shares of Newmont Mining (NEM 41.07, +0.64). The stock is currently up roughly 1.6% this session. The advance this session has given it a 1.3% month-to-date gain.
The latest crude oil inventory data reflected a build of 6.1 million barrels, which is far more than the build of 1.4 million barrels that was expected. News of the higher-than-expected build is pushing crude oil futures lower. Crude oil futures are now down 6.4% to $40.80 per barrel.
