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Markets, palladium shine

Wall Street edged up to fresh records again yesterday, with the S&P 500, Nasdaq and Dow Jones Industrial Average all closing higher once more as ebullience remains over the US-China trade deal.
Markets, palladium shine Markets, palladium shine Markets, palladium shine Markets, palladium shine Markets, palladium shine

Ivanhoe’s Platreef joint venture project in South Africa

Staff reporter

Markets in London, Toronto and Asia also closed higher yesterday, Australia's S&P/ASX200 was up at the time of writing and futures were mixed.

Meanwhile palladium is worth about $1,905 an ounce on the spot market, having broken above $2,000/oz yesterday for the first time amid a supply shortfall.
Copper reached a fresh high of US$6,223 per tonne yesterday but settled essentially unchanged at $6,200/t, Marex Spectron's Dee Perera said.

Ivanhoe Mines (TSX: IVN), which is developing the large-scale Kamoa-Kakula copper joint venture in the Democratic Republic of Congo, gained 7.7% on no news.

It is also looking at an alternative production plan for its Platreef project in South Africa, saying last month the palladium price surge had increased the project's "metals-price basket" to a new, multi-year high.

Finally, over on the TSX Venture Exchange, British Columbia explorer Teuton Resources (TSXV: TUO) rose 24.7% on no news.

The company had last month said drilling at its Del Norte property suggested VMS potential. It also has a stake in the Treaty Creek joint venture, where October results had included 336m at 1g/t gold.