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Spot gold at nine-year high

The spot gold price has followed futures and burst through the US$1,800 an ounce mark to its highest point since September 2011.
Spot gold at nine-year high Spot gold at nine-year high Spot gold at nine-year high Spot gold at nine-year high Spot gold at nine-year high

Newcrest Mining’s Telfer gold operations in Western Australia

Staff reporter

It was worth about $1,809/oz at the time of writing, having earlier neared $1,820/oz.

US president Donald Trump didn't share any economic jitters, tweeting yesterday the economy and jobs were growing much faster than anyone - except him - had expected, while China's virus mortality rate was among the lowest of any country.

"Shaping up for a good third quarter, and a great next year!" he said.

North American markets closed higher and the Nasdaq hit a fresh record, while Europe was muted and Australasia mixed.

Market futures are mainly upbeat.

Gold equities enjoyed more support.

Near-term development hopeful Condor Gold (TSX: COG) closed up 44.9% in Toronto on no news, returning towards a one-year high.

On the TSX Venture Exchange, gold and silver explorer StrikePoint Gold (TSXV: SKP) was one of the bigger risers, closing up 42.9%.

The junior, which has two advanced exploration projects in British Columbia's Golden Triangle, gained after announcing a near-C$2 million investment by high-profile investor Eric Sprott which was set to increase his stake to 19.9%.

Finally, Australian gold major Newcrest Mining (ASX: NCM) was up about 2.4% in morning trade.