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Miners sold down

US markets returned from a public holiday to lose ground yesterday after a positive run to start the year, as the US dollar strengthened and commodity prices softened.
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Larger capitalised mining stocks lose ground

Staff reporter

The S&P 500, FTSE 100, S&P/TSX and Venture composite indices and S&P/ASX 200 all closed lower since this time yesterday, pulled back by mining stocks.

On the TSX, the Metals & Mining sector fell 2.55%.

Kinross Gold (CN:K) lost 4.3%, Barrick Gold (CN:ABX) was down 3.13% and diversified miner Teck Resources (CN:TECK.B) fell just over 4% yesterday.

In London, Rio Tinto (LN:RIO) dropped a little more than 3% while in Australia today, it was a similar fate for BHP (AU:BHP), falling 2.9%.

Larger capitalised mining stocks had the biggest declines on the Australian benchmark index, with lithium developer Pilbara Minerals (AU:PLS) and gold miner Saracen Mineral Holdings (AU:SAR) both dropping more than 5%.

The gold price was also lower than at this point yesterday, at US$1,334 an ounce.