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Tariff respite boosts markets

Markets are upbeat following a positive meeting between US president Donald Trump and China’s Xi Jinping on the weekend, where the pair agreed to a temporary tariff truce and to continue trade talks.
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Maya Gold and Silver on the rise ahead of commercial production

Staff reporter

Futures point to a positive start on key US and UK market indices today, while Australian stocks were higher in afternoon trade.

Metals and mining stocks on the S&P/ASX200 were up 3.4% at the time of writing.

BHP (ASX: BHP) was up 3.81% and Syrah Resources (ASX: SYR) was more than 11% higher in late trade as it announced that improvements at its Balama graphite operations in Mozambique were delivering strong results.

The dollar was lower and the gold was up almost US$5 an ounce to $1,225.39/oz on the spot market earlier.

Meanwhile the increasingly shiny palladium price has hit a fresh record high of $1192.78/oz on the spot market today.

Speaking of shiny commodities, emerging silver producer Toronto-listed Maya Gold & Silver (TSX: MYA) had a strong finish to the week, closing up more than 22% on Friday.

Its most recent update was in mid-November when the company said it remained on schedule to begin commercial production at its Zgounder silver mine in Morocco by December 2018.

The silver price however is at the lower end of its 52-week range, of $13.99-$17.55/oz, trading at $14.31/oz on the spot market.