Currently viewing Global edition

Markets, gold price lower

Key markets closed lower yesterday and the gold price sank as Europe eyes more COVID-19 lockdowns.
Markets, gold price lower Markets, gold price lower Markets, gold price lower Markets, gold price lower Markets, gold price lower

GGX Gold’s Amandy shaft sample, which assayed 23.5g/t gold, from its Gold Drop property in BC

Staff reporter

In addition, investors were worried about the prospect of a contested US election, Reuters reported.

The market also awaits news from China's plenum - which will set the country's next five-year plan - which ends today, Marex Spectron's Alastair Munro noted.

Gold has dropped US$30 an ounce over the past 24 hours to $1,878 an ounce on the spot market.

Base metals except lead closed lower on the London Metal Exchange.

Mining majors sank in London, where Fresnillo finished 6.1% lower and Anglo American fell 5.07%.

Most gold equities closed lower in Toronto.

Eldorado Gold (TSX: ELD) lost 8.65% and Barrick Gold was down 3.37%.

On the TSX Venture Exchange, GGX Gold offered a contrast, closing up 31% to C19c as it reported high-grade assays from sampling at its Gold Drop property in British Columbia.

One of the surface rock chip grab samples returned 23.5g/t gold, 437g/t silver, 198g/t tellurium and 0.7% lead.

US futures were up but elsewhere, futures were pointing to a downbeat day.