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Trade tensions build

North American markets closed lower yesterday and look set for a downbeat start today as tensions build over trade negotiations between the US and China.
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BHP's Saraji mine in Queensland

Staff reporter

However most Australasian market indices were higher at the time of writing, with the benchmark S&P/ASX 200 up after Australian interest rates were maintained.

Metals and mining stocks were up 1.85% in Australian trade, with BHP (ASX: BHP) up about 1.5% at the time of writing.

Metal prices on the London Metal Exchange were shielded from yesterday's tumult over US president Donald Trump's tweeted trade tariff threats, with London closed for a bank holiday and the arrival of a royal baby making headlines.

Metals and mining stocks closed almost 0.5% lower in Toronto yesterday, despite the gold patch's gain of 0.11%.

Eldorado Gold (TSX: ELD) was up 5.91% but among the diversified miners, Oyu Tolgoi co-owner Turquoise Hill Resources (TSX: TRQ) closed down 6.37%.

Eldorado had reaffirmed its 2019 production and cost guidance last week.

The gold price is similar to this time yesterday, above US$1,281 an ounce on the spot market.