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Markets, silver looking up

Key market futures were looking positive after a mixed finish yesterday, with no fresh moves in US-China trade tensions but opposition mounting to a no-deal Brexit and Hong Kong unrest continuing.
Markets, silver looking up Markets, silver looking up Markets, silver looking up Markets, silver looking up Markets, silver looking up

Underground at Pan American Silver’s La Colorada mine in Mexico

Staff reporter

Gold remains near a six-year high, having reached US$1,553.87 on the spot market on Monday and worth $1,536/oz at the time of writing.

Silver is trading about a two-year high, reaching US$18.34 on the spot market earlier.

It had fallen below $14/oz briefly in December.

Silver stocks were up 4.5% collectively on Toronto's S&P/TSX Composite Index, where both Pan American Silver (TSX: PAAS) and MAG Silver Corp (TSX: MAG) were up almost 8%.

Pan American touched a 52-week high intraday and is up more than 26% so far this year.

Gold equities not far off the pace were IAMGOLD (TSX: IMG), up 7.87%, and Centerra Gold (TSX: CG), up 7.69%.

IAMGOLD this week partially resumed operations at the Rosebel mine in Suriname and Centerra announced the long-awaited finalisation of a deal to end disputes in the Kyrgyz Republic over its Kumtor gold mine.

Precious metals miner Fresnillo (LSE: FRES) rose 1.93% as London's metals and mining sector closed up 0.02%.

Australia's metals and mining stocks on the S&P/ASX were higher at the time of writing.

Copper-gold miner Sandfire Resources (ASX: SFR) was up more than 8% and BHP (ASX: BHP) was up 1.55% in afternoon trade.

Copper had closed about 0.9% higher on the London Metal Exchange yesterday.

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