CAPITAL MARKETS

Dovish comments send markets soaring

Gold price, markets rise

Staff reporter

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The S&P500 breached 3,000 points for the first time before closing slightly below the benchmark.

The spot gold price has shot up US$32 an ounce compared with this point yesterday, to about $1,424/oz.

The gold-heavy metals and mining sector closed more than 1% higher in Toronto yesterday.

Market futures were pointing to a positive start today for key global indices.

The S&P/ASX200 was up at the time of writing and gold producer Resolute Mining (ASX: RSG) was leading market risers on the index with a gain of about 9% on no news.

The Australian dollar gold price has risen further, to A$2,046.32/oz, according to the Perth Mint.

Base metals also closed higher on the London Metal Exchange yesterday.

Among the majors, Newmont Goldcorp (NYSE: NEM) rose 0.75% in New York yesterday, Antofagasta (LSE: ANTO) reduced some of the previous day's losses by gaining 1.79% in London and BHP (ASX: BHP) was up 0.4% in afternoon Australian trade.

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