CAPITAL MARKETS

Gold, gold stocks on the rise

The beleaguered bullion price is on the rise after US president Donald Trump indicated a preference for a weaker US dollar and said he was prepared to implement more tariffs on imports from China.

Staff reporter
St Barbara’s Leonora operations

St Barbara’s Leonora operations

The spot gold price was earlier above US$1,232 an ounce having fallen as low as $1,211.76 on Thursday.

"China, the European Union and others have been manipulating their currencies and interest rates lower, while the US is raising rates while the dollars gets stronger and stronger with each passing day - taking away our big competitive edge. As usual, not a level playing field...," Trump tweeted on Friday.

Mining stocks were mixed, with the S&P/TSX Composite Index metals and mining stocks closing 0.19% lower on Friday.

Eldorado Gold (TSX: ELD) was the outlier, rising 3.52% on no news.

In the US, the small number of mining stocks on the S&P500 were up 0.72% due to a strong gain by Nucor Corp (NYSE: NUE), up 2.44%.

In London, mining stocks were lower with Glencore (LSE: GLEN) down 1.61%.

Metals and mining stocks were down 0.8% overall around lunchtime on the ASX but the gold sector was in positive territory.

Gold producers St Barbara (ASX: SBM) and Resolute Mining (ASX: RSG) were both up around 1% at the time of writing.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.

editions

Mining Journal Intelligence Global Leadership Report 2023: Social licence

Gain insights into social licence trends and best practices from interviews with 20+ top mining company executives and an industrywide survey.