10 Firms, Predominantly Gold Miners, Lead Wednesday Rally

7. Kinross Gold Corp. (KGC)

Share prices of Kinross Gold (KGC), a Canadian gold and silver mining company, rose for a second day on Wednesday, rallying by 4.85 percent to end at $10.38 apiece as investors took path from gold prices nearing a four-week high.

On Wednesday, spot gold rose by 0.3 percent to $2,657.38 per ounce, as of 02:15 p.m. ET, hitting its highest since December 13. Meanwhile, US gold futures settled 0.3 percent higher at $2,672.40.

Similar to its peers, investor sentiment for Kinross was buoyed by incoming president Donald Trump’s criticism of the Federal Reserve over interest rates being “far too high,” which could spark lower rates under his administration.

With interest rates likely to be lower, the returns from bonds and other interest-yielding assets would look less appealing and may force investors to shift their funds into non-interest assets such as gold.