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Why Yamana Gold Stock Jumped This Week

Why Yamana Gold Stock Jumped This Week

Yamana Gold (NYSE: AUY) stock rocketed higher and closed the week up 8.8%, according to data provided by S&P Global Market Intelligence. Gold did rebound a bit this week, but only momentarily, and its price has consistently declined since mid-April. On May 31, Yamana Gold and South Africa-based gold miner, Gold Fields (NYSE: GFI) announced that they had entered an agreement where the latter will acquire Yamana Gold in an all-stock deal.