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Markets 'paralysed' as US election looms

Gold is back above US$1,900 an ounce and key markets closed lower, as investors eye a continuing increase in COVID-19 cases and the looming US presidential election.
Markets 'paralysed' as US election looms Markets 'paralysed' as US election looms Markets 'paralysed' as US election looms Markets 'paralysed' as US election looms Markets 'paralysed' as US election looms

Condor Gold is focused on its La India project in Nicaragua

Staff reporter

Market futures were mixed.

The broad view seems to be for markets "largely paralysed" ahead of the November 3 election, IG senior market strategist Jingyi Pan tweeted yesterday.

The number of COVID-19 cases globally is around 43 million and there have been more than 1.1 million deaths, the World Health Organisation said yesterday.

Base metals were lower across the board on the London Metal Exchange.

Metals and mining equities closed down more than 2% in Toronto.

Dual-listed Condor Gold was one of the bigger market risers in Toronto on no news.

Its shares (TSX: COG) closed up more than 18% in Canada, compared with a 2.5% gain for the day in London (AIM: CNR).

The company is advancing its La India project in Nicaragua towards a construction decision.

Among the majors, BHP was down 1.7% in midday Australian trade, Rio Tinto had closed 2% lower in London and Newmont was down 0.25% in New York.