Gold miner stocks blast off after weak jobs data

Gold miner stocks soared Friday, with the sector enjoying its best day in 7 1/2 years, as the weak May jobs report helped spark a sharp bounce in the price of gold.

The VanEck Vectors Gold Miners exchange-traded fund GDX, +11.24%  shot up 11.2%, marking the best one-day percentage gain since Nov. 21, 2008, in the midst of the Great Recession. All 25 of the ETF’s U.S. equity components traded higher, with 14 of them enjoying double-digit percentage gains.

The ETF’s volume of 170.2 million shares, which was more than double the full-day average, was enough to make it the most-active stock traded on U.S. exchanges, according to FactSet.

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