GORO News & Analysis

Goldgroup Mining (GORO) Stock Rallies 6%, Then Gains 0.6% After Fed Rate Increase

Goldgroup Mining (NYSEMKT: GORO) stock rose over 6% in early trading Thursday but settled for a 0.6% gain by 11:11 a.m. ET. This movement followed the U.S. Federal Reserve's decision to increase interest rates by 0.25%, raising the range to 3.75% to 4%. On the same day, gold prices fell to $4,333 per ounce but later increased slightly to $4,397 per ounce. For investors, the outlook is cautious due to Goldgroup's history of losses and predictions that falling gold prices may impact its financial recovery efforts.