CAPITAL MARKETS

Gold at four-month high

The spot gold price is nudging US$1,900 an ounce again, its highest point since January.

Staff reporter
 Visible gold from recent drilling at Osisko Mining’s Windfall project in Canada

Visible gold from recent drilling at Osisko Mining’s Windfall project in Canada

The lift comes as more US Federal Reserve officials join a chorus downplaying price pressures, Bloomberg reported, allaying some inflation concerns.

It was worth $1,898/oz at the time of writing.

It meant a positive session for most gold stocks in Toronto, where Canada-focused explorer Osisko Mining (TSX: OSK) was up 3.01%.

However Centerra Gold (TSX: CG) slid 4.67% as its woes continue in the Kyrgyz Republic, where the government has seized control of its flagship Kumtor mine for three months, citing health and safety concerns. 

Africa-focused developer Ivanhoe Mines rose 4.53% in Toronto, with copper production imminent at its Kamoa-Kakula joint venture in the Democratic Republic of Congo.

On the TSX Venture Exchange, Noront Resources (TSXV: NOT) shot up more than 29% on news Australian mining billionaire Andrew Forrest's Wyloo Metals intended to make a premium offer for the remaining shares in the nickel-copper-palladium hopeful, valuing Noront at C$133 million.

Mining majors were lower in London, where Anglo American lost 2.36% and Glencore 2%.

Finally, key market futures were mixed.

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