Currently viewing Global edition

Troubled waters on markets with oil, virus concerns

Market futures are showing a sea of red with investors bracing for a negative start to the week as concern surrounding the coronavirus and its economic impact spreads.
Troubled waters on markets with oil, virus concerns Troubled waters on markets with oil, virus concerns Troubled waters on markets with oil, virus concerns Troubled waters on markets with oil, virus concerns Troubled waters on markets with oil, virus concerns

Goldseek Resources is set to debut on the CSE today as gold equities glitter amid market gloom

Staff reporter

The United Nations Conference on Trade and Development said yesterday it expected the COVID-19 outbreak's negative impact on global foreign direct investment flows to be between -5% to -15% this year.

Meanwhile equities in the Middle East plunged on Sunday as Saudi Arabia slashed the price of its crude after producers failed to agree on supply cuts, Bloomberg reported.

Diversified miner and oil and gas producer BHP (ASX: BHP) dropped 12% in morning Australian trade.

The gold price has surged to almost US$1,700 an ounce on the spot market, trading earlier about $1,698/oz.

Gold major Newmont (NYSE: NEM) is trading close to a multi-year high after closing on Friday at $52.35.

As gold equities gain, Goldseek Resources is set to list the Canadian Securities Exchange today under the symbol GSK.

Its flagship project is Bonanza in Quebec which it says shares a 28km border with Osisko Mining.