Sector Snap: Gold Producers

On the New York Mercantile Exchange, December gold added $6.80 in early trading, to $680.70 per ounce in early trading.

The dollar fell against most major world currencies. The dollar and the price of gold usually move inversely, as each is considered a hedge against the other.

Gold producers rallied along with the broader market, as investors reacted to Federal Reserve Chairman Ben Bernanke's reiteration that the central bank will "act as needed" to prevent a credit crisis from hurting the broader economy.

Many investors hope the Fed will cut its key funds rate to mitigate pressures on the credit market, where money has become harder to obtain.

The metals sector is generally volatile, and tends to amplify broader market moves. The Dow Jones industrial average rose 99.17 points to 13,337.90.

Barrick Gold Corp. shares added 90 cents, or 2.9 percent, to $32.30; Agnico-Eagle Mines Ltd. shares rose $1.68, or 3.9 percent, to $44.72; Gold Fields Ltd. shares added 39 cents, or 2.6 percent, to $15.27.

Newmont Mining Corp. shares rose 87 cents to $42.38, while AngloGold Ashanti Ltd. shares added $1.17, or 3.1 percent, to $38.97. Goldcorp Inc. shares rose climbed 49 cents, or 2.1 percent, to $23.60.

Kinross Gold Corp. shares rose 35 cents, or 3 percent, to $12.08, while IAmGold Corp. edged up 20 cents, or 3.1 percent, to $6.70.

Harmony Gold Mining Co. shares bucked the trend, was off but in midday trading was breakeven at $9.04.