Kinross Gold Corporation (KGC) saw its stock price soar by 5.01% during Monday's trading session, riding the wave of a broader rally in gold stocks. The surge comes as gold prices jumped over 2%, trading above $4,100 an ounce at one point, driven by weakening US economic indicators and increased speculation of a potential rate cut.

The precious metal's appeal as a safe-haven asset strengthened following reports of declining US consumer sentiment and a weak labor market. These factors have heightened expectations for a Federal Reserve rate cut in the near future, making non-yielding assets like gold more attractive to investors. The ongoing government shutdown discussions in Washington have also contributed to market uncertainty, further boosting gold's allure.

Kinross wasn't alone in its upward movement, as other major gold miners also experienced significant gains. Barrick Mining, AngloGold Ashanti, Harmony Gold, and Gold Fields all saw increases of over 6%, while industry giant Newmont Corporation rose by more than 4%. This collective surge in gold mining stocks underscores the sector-wide impact of the rallying gold prices and shifting economic landscape.