Market turmoil and stronger gold prices caused the stocks of gold mining companies to climb sharply on Friday.
The S&P 500 ETF (SPY) hit a new 52-week low on Friday before bouncing back late in the day to finish up 5% on the day.
Gold prices were also climbing at the end of the week. The SPDR Gold Shares ETF (GLD) was up nearly 13% on the week.
Gold mining stocks were lagging until Friday when they took off. TheMarket Vectors Gold Miners ETF (GDX) was up 27% on Friday on the strength of its largest holdings including Barrick Gold (ABX) +31% and Goldcorp (GG) +27%.