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Miners slump, gold stays up

Continuing weak commodity prices have seen mining stocks slump, with mining majors weighing on global markets as geopolitical tensions simmer.
Miners slump, gold stays up Miners slump, gold stays up Miners slump, gold stays up Miners slump, gold stays up Miners slump, gold stays up

Fresnillo fell almost 7%

Staff reporter

The UK and EU have agreed Brexit terms, which must be backed by UK's parliament, while China and US leaders are set to meet this Friday at the G20 summit in Argentina with all eyes on possible trade outcomes.

All commodity prices were lower on the London Metal Exchange on Friday bar aluminium, which managed an 0.08% gain.

Amidst the gloom, the gold price has climbed a couple of dollars on the spot market to above US$1,224 an ounce today.

Precious metals miner Fresnillo (LSE: FRES) fell the most on London's FTSE100 on Friday, down 6.98%, while Anglo American (LSE: AAL) dropped 4.53%.

In Canada, Barrick Gold (TSX: ABX) closed down 3.81% and in the US, Freeport-McMoRan (NYSE: FCX) lost 5.61%.

Australian mining equities followed suit today, with miners showing four of the five biggest declines on the benchmark S&P/ASX200 at the time of writing.

Both Independence Group (ASX: IGO) and Mineral Resources (ASX: MIN) were down more than 7% in late trade.

BHP (ASX: BHP) was down almost 3.5%.

Finally, at the smaller end of town on the other side of the world, Bunker Hill Mining (CSE: BNKR) was up almost 55% on Friday to C8.5c on no news since having its lease reinstated earlier this month over its zinc-lead-silver mine in Idaho.