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Trade deal boosts markets

A bilateral trade deal between Mexico and the US has boosted markets, while there is less optimism around a possible US-China trade resolution.
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Galaxy among market risers

Staff reporter

Base metals futures were mixed in Asian trade with tin and zinc showing gains but copper lower at the time of writing.

The spot gold price is a little higher than this time yesterday, above US$1,209 an ounce.

Metals and mining stocks closed up 1.5% on the S&P500 yesterday and up 1.27% on the S&P/TSX Composite Index in Toronto.

Ivanhoe Mines (TSX: IVN) continued its upward path, gaining a further 3.21% after the company last week reassured shareholders and co-founded a body to engage with the DRC government over its new mining code. 

Detour Gold (TSX: DGC) closed 3.82% higher as it announced a special shareholders meeting for December that had been requisitioned by activist shareholder Paulson & Co. 

In Australian trade this afternoon, metals and mining stocks were up more than 1% with the gold patch 0.8% higher at the time of writing.

Galaxy Resources (ASX: GXY) was up 4.87% in late afternoon trade after the POSCO board approved the US$280 million cash purchase of a package of Argentine lithium tenements.   

London markets reopen today after a long weekend.