Currently viewing Global edition

Gold at highest point since 2013

Gold remains at a near-six year high, worth more than US$1,402 an ounce on the spot market, as heightened US-Iran tensions add to geopolitical concerns, on top of the growing likelihood of US interest rate cuts.
Gold at highest point since 2013 Gold at highest point since 2013 Gold at highest point since 2013 Gold at highest point since 2013 Gold at highest point since 2013

Eldorado among market risers as spot gold at highest point since 2013 in US dollar terms

Staff reporter

Gold had reached $1,417.51 in August 2013 on the spot market.

The gold price has hit a fresh all-time high in Australian dollar terms, having broken through the A$2,000/oz mark last week to touch $2,033.46/oz earlier today.

It is currently trading above A$2,015/oz.

Global market futures were mixed for the start of the final week in the first half of the year.

Ausdrill (ASX: ASL) was a standout on the S&P/ASX200 in afternoon trade, up more than 13% after announcing its subsidiary Barminco had secured an A$800 million underground mining services contract in Botswana.

Africa-focused developer Ivanhoe Mines (TSX: IVN) continues its rise, gaining 3.56% on Friday to close above C$4 for the first time since January 2018 and representing a gain of almost 72% year-to-date.

Gold producer Eldorado Gold (TSX: ELD) was among the better performers in Toronto, up 5.65% on no news.

Meanwhile uranium equities Energy Fuels and Ur-Energy closed slightly higher on Friday after Bloomberg reported the US Commerce Department recommended the White House take steps to protect the domestic production of uranium, citing a national security risk.

The US-traded shares of Energy Fuels (NYSE American: UUUU) and Ur-Energy (NYSE American: URG) were both up about 1.6%.