Investors pour into gold stocks: Barrick gains $7bn in 7 weeks

Barrick is now worth $21 billion on the TSX, gaining $7 billion in market value in as many weeks. The company, which has written down the value of its assets by some $13 billion this year, peaked at a market capitalization in January 2011 of more than $54 billion.

Gains for Newmont Mining Corp (NYSE:NEM) have been more modest, but the $16.4 billion Denver-based company which hopes to mine around 5 million ounces this year is still up nearly 20% since gold's June 28 low.

The world's third largest gold producer in terms of ounces mine behind Newmont, AngloGold Ashanti (NYSE:AU) gained 3.3% on Friday, but the Johannesburg-based company has made few strides on the back of the resurgent gold price.

Read More: www.mining.com/gold-miners-spike-again-barrick-gains-7-billion-in-7-weeks-58896/