CAPITAL MARKETS

Gold holds around US$2,000/oz

Market futures are indicating a downbeat start to August, while the gold price continues to flirt with US$2,000 an ounce.

Staff reporter
 Integra Resources has added an NYSE American listing

Integra Resources has added an NYSE American listing

Comex December gold futures had touched $2,009.50/oz earlier but were around $1,998/oz at the time of writing.

Spot gold was worth about $1,981/oz.

US growth took its worst hit on record in the second quarter, while the S&P 500 stands some 4% below all-time highs, Reuters reported, with the continued divergence between stocks and the real economy worrying some investors.

"With US real interest rates heading lower, the most important financial market signal is supporting gold at this point," World Gold Council chief market strategist John Reade said last week.

Greenland-focused AEX Gold (TSXV: AEG) also listed on the London Stock Exchange's AIM market on Friday, reaching 50.5p intraday before closing unchanged at 46p.

Fellow TSXV-listed Integra Resources, which is advancing its DeLamar gold project in Idaho, added an NYSE American listing on Friday, where it closed up 3.4% to US$4.19.

Elsewhere, gold major Newmont shot up 5.39% on Friday to close at $69.20, $1.10 off a one-year high.

Fresnillo added 1.99% in London and BHP was up slightly this morning in early Australian trade.

Toronto is closed for a civic holiday today.

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