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EYEBROW

29 September 2017
Test edition
Test edition

Summary of this Test edition

EYEBROW

26 September 2017

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Positive market for metals and mining sectors

Bitcoin buzz takes shine off gold

Namibia Rare Earths diversifies portfolio

To acquire seven projects in Namibia and turn focus to cobalt

Graphite explorer goes ahead in Nevada

Global Li-Ion to start exploring at Chedic

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Finance > Capital-markets

Gold price diverges from global markets

London’s FTSE 100 index recovered during the day on Tuesday after dipping in the morning following a stream of negative corporate news.

Staff reporter

Finance > Capital-markets

Gold price diverges from global markets

London’s FTSE 100 index recovered during the day on Tuesday after dipping in the morning following a stream of negative corporate news.

Staff reporter

Gold price diverges from global markets

Robert Mugabe has finally stood down

U.S. Navy photo by Mass Communication Specialist 2nd Class Jesse B. Awalt/Released

The recovery came before the announcement that Zimbabwe president Robert Mugabe was to resign from his post. This happened soon after the start of an impeachment hearing against him. 

The US market opened strong on Tuesday, with most industries seeing gains, particularly the technology and healthcare sectors, with the Dow Jones, Standard & Poor's 500 and Nasdaq all expected to break recent records.

There was an air of caution in the markets, though, with investors awaiting the UK Budget and US Federal Reserve's minutes, both of which were expected on Wednesday.

The gold price moved down, day-on-day, to US$1,283.30 per ounce, although had recovered on Tuesday afternoon from lower levels in the morning session.

The gold price weakness did not seem to have had much impact on North American gold majors, with Barrick Gold (US:ABX) and Newmont Mining (US:NEM) both moving higher from Monday's close.

In Canada, Goldcorp (CN:C) was close to unchanged.

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