CAPITAL MARKETS

Gold miners gain

Spot gold prices have climbed more than US$11 an ounce from Friday’s low of $1,321.82 as US-China trade tensions continue to dominate.

Staff reporter
Randgold was among the market risers

Randgold was among the market risers

Gold stocks have fared well among the fluctuations, with Torex Gold Resources (CN:TXG) the standout on Friday in Toronto, rising more than 51% as it regained full access to its Mexican mine and assets after an illegal blockade over union representation was removed.

Others to gain in Toronto included Yamana Gold (CN:YRI)  and Eldorado Gold (CN:ELD), up 3.51% and 3.33% respectively, as the S&P/TSX Composite Index gold sector closed up 1.1%.

In Australian trade this afternoon, gold miner Resolute Mining (AU:RSG) was up more than 2.5% in the wake of Friday's announcement it would take a 27% stake in Canadian-listed explorer Loncor Resources (CN:LN).

Randgold Resources (LN:RRS) finished Friday up 1.54% in London while the diversified  sector on the FTSE100 was 1.99% lower.

Rio Tinto (LN:RIO) was down 2.35% and fellow diversified major BHP (AU:BHP) was little changed near the close of Australia trade today.

Copper major Freeport-McMoRan was down 4.31% on Friday in the US as the copper price slid more than 0.7%.

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