CAPITAL MARKETS

Gold price weakens

Around US$1,255/oz

Staff reporter

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The spot price for the precious metal was trading around US$1,255 an ounce earlier.

Copper, lead, zinc and tin were lower yesterday on the London Metal Exchange.

However zinc's slight drop didn't daunt investors looking at Tinka Resources (TSXV: TK) yesterday.

The Canadian-based junior closed up 29.41% on discovering an "exceptional" zinc grade at Ayawilca, reporting 10.4m at 44% zinc.

At the bigger end of town, gold miner Barrick Gold (TSX: ABX) closed down 0.99% and in Australia, Newcrest Mining (ASX: NCM) was down more than 0.7% in afternoon trade.

Earlier this week, Barrick did not put a timeline reaching a final agreement with the Tanzanian government over the issues facing its subsidiary Acacia Mining in the African country.

Meanwhile, the Metal Bulletin 62% iron ore price was up 1.7% and correspondingly, BHP (ASX: BHP) was more buoyant today and up more than 1.8% this afternoon.

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