CAPITAL MARKETS

Copper rises, gold flirts with US$1,900/oz

The copper price rose slightly in London amid news of strike action at BHP operations in Chile.

Staff reporter
 Image: Pixabay/Stevebidmead

Image: Pixabay/Stevebidmead

Industrial action is set to start today at BHP's remote operations centre in Santiago.

Copper gained 0.6% on the London Metal Exchange to US$9,961.25 per tonne.

Gold rose above $1,900 an ounce in the past 24 hours but has fallen back to $1,893/oz on the spot market.

It was the highest level since January for the precious metal.

Gold majors barely moved - Barrick Gold gained 0.47% in Toronto and Newmont was flat in New York.

However gold explorers were on the rise in Toronto amid "bonanza" drill results, including Allegiant Gold (TSXV: AUAU).

It rose 39.6% on reporting 148m at 2.6g/t gold at its Eastside project in Nevada.

Maple Gold Mines (TSXV: MGM) was up 5.26% on intercepting 132m at 1.58g/t gold at its Douay project in Quebec, a joint venture with Agnico Eagle Mines.

Agnico (TSX: AEM) was up 1.16%.

Finally in London, both Antofagasta and Glencore gained about 0.7%.

 

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