Metal stocks rose before the market opened due to record high gold prices.

Precious metal stocks rose in pre-market trading on Monday, as gold prices hit record highs after the Federal Reserve cut interest rates last week. Silver prices also climbed on Monday, reaching their highest level since August 2011. Analyst Ovais Habib from FNB Bank said that the rise in gold prices since the rate cut was due to "safe-haven demand, central bank buying, and a weaker US dollar". Stocks that rose in pre-market trading included: Newmont Goldcorp up 2.9%, Agnico Eagle Mines up 3.8%, Wheaton Precious Metals up 2%, Barrick Mining up 3%, Kinross Gold up 2.9%, Equinox Gold up 2.2%, Alamos Gold up 2.8%, Pan American Silver up 4.6%, First Majestic Silver up 4.2%, Core Mining up 5.1%, Endeavour Silver up 3.3%.