CAPITAL MARKETS

Futures up as geopolitical tensions simmer

Most market futures started the week pointing higher despite geopolitical tensions simmering.

Staff reporter
 Image: Unsplash/chuttersnap

Image: Unsplash/chuttersnap

China has flagged new national security laws to give it greater control over Hong Kong, where pro-democracy protests made international headlines last year.

The gold price was down slightly to about US$1,727 an ounce on the spot market at the time of writing.

Gold stocks had gained on Friday in Toronto, where junior Orosur Mining (TSX: OMI) rose 37.5% - or C1.5c - but it remains at the lower end of its one-year range.

Base metals were lower on Friday after the Chinese government refrained from announcing any significant new stimulus and abandoned a yearly growth target due to heightened uncertainties stemming from the COVID-19 pandemic, Marex Spectron's Anna Stablum said from the LME desk (Singapore).

More reports which will reveal the state of the US economy are due out this week.

Both New York and London markets are closed for public holidays today.

Finally, BHP (ASX: BHP) was up about 1% in morning Australian trade.

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