Gold’s soaring start to 2016 is beating bonds to stock indexes. Yet even bullion’s 15 percent gain this year is being outstripped by advances posted from producers, including Barrick Gold Corp. and Newmont Mining Corp. When prices are rising, companies with good balance sheets often “outpace the underlying commodity,” as there’s a perception that free-cash flow generation will improve, Chris Weston, chief markets strategist in Melbourne at IG Ltd., said by phone.

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