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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.
Gold price diverges from global markets Gold price diverges from global markets Gold price diverges from global markets Gold price diverges from global markets Gold price diverges from global markets

Robert Mugabe has finally stood down

Staff reporter

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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