CAPITAL MARKETS

Gold at highest point since 2013

Spot gold at near-6-year high in US dollar terms

Staff reporter

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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%.

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