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Markets, metals gain

Market futures are upbeat around the globe as economic optimism outshines the continuing climb in COVID-19 cases.
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Massive chalcopyrite from Doubleview Gold’s Hat copper-gold project in BC

Staff reporter

The Nasdaq hit a fresh high in the US and the Shanghai Composite Index closed 5.71% higher.

A slew of upbeat US data recently, including a record rise in monthly payrolls, powered the Nasdaq to all-time highs, Reuters reported.

It closed up 2.21% to 10,433.65, London's FTSE 100 gained 2.09% and the S&P/TSX Venture Composite Index rose 1.89%.

The copper price is returning towards its January high amid the prospect of Chilean supply disruptions to due to the global pandemic, closing up 1.86% on the London Metal Exchange to US$6,135.25 per tonne yesterday.

The gold price has also strengthened and was worth about $1,786 an ounce on the spot market at the time of writing.

Among the market risers, Doubleview Gold (TSXV: DBG) shot up to a one-year high before closing up 47%.

The company, which changed name from Doubleview Capital Corp in May, had announced an independent technical review confirmed the Lisle zone at its Hat deposit in British Columbia was an "alkalic copper-gold porphyry deposit with significantly elevated gold grades", featuring 235m at 1.04g/t gold-equivalent.

Group Eleven Resources (TSXV: ZNG) also hit a 52-week high and closed up about 38.5% after reporting "the best mineralisation Group Eleven has drilled since inception of the company in early 2015".

It intersected 10.3m at 14.6% zinc, 5% lead (19.6% combined) and 43g/t silver from the Carrickittle prospect at its 100%-owned PG West project in the Republic of Ireland.