CAPITAL MARKETS

Gold price weakens

The gold price has continued to weaken with the US dollar strengthening and investors not seeking the traditional safe haven in the face of continued trade tensions.

Staff reporter
Barrick was among lower gold stocks

Barrick was among lower gold stocks

The spot price for the precious metal was trading around US$1,255 an ounce earlier.

Copper, lead, zinc and tin were lower yesterday on the London Metal Exchange.

However zinc's slight drop didn't daunt investors looking at Tinka Resources (TSXV: TK) yesterday.

The Canadian-based junior closed up 29.41% on discovering an "exceptional" zinc grade at Ayawilca, reporting 10.4m at 44% zinc.

At the bigger end of town, gold miner Barrick Gold (TSX: ABX) closed down 0.99% and in Australia, Newcrest Mining (ASX: NCM) was down more than 0.7% in afternoon trade.

Earlier this week, Barrick did not put a timeline reaching a final agreement with the Tanzanian government over the issues facing its subsidiary Acacia Mining in the African country.

Meanwhile, the Metal Bulletin 62% iron ore price was up 1.7% and correspondingly, BHP (ASX: BHP) was more buoyant today and up more than 1.8% this afternoon.

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