Currently viewing Global edition

Gold drops

The gold price has dropped to around a six-month low today as the US dollar strengthened to its highest point in almost a year.
Gold drops Gold drops Gold drops Gold drops Gold drops

Gold miner Saracen was on the rise

Staff reporter

Bullion was trading at US$1,262 an ounce on the spot market at the time of writing, about $13/oz lower than this time yesterday.

Australian investors were undaunted, with gold miners in the benchmark S&P/ASX200 index all in positive territory in midday trade.

Producer Saracen Mineral Holdings (ASX: SAR) was up 6.05% earlier and trading around a 52-week high.

In Toronto, the S&P/TSX Composite Index metals and mining sector had closed down 0.52% yesterday, with the gold subset down 0.65%.

Dual-listed OceanaGold Corp (TSX: OGC) was among a handful there to close higher, up 1.12% yesterday after lifting guidance.

London's metals and mining sector on the FTSE100 regained a little further ground yesterday, closing up 0.18%.

Base metals on the London Metal Exchange were lower yesterday, except nickel - which rose more than 2.2% to near the US$15,000/t mark - and tin which was up around 1.4%.