CAPITAL MARKETS

Gold gains on talk of gradual shift in monetary policy

The gold price was up about US$20 an ounce from yesterday as inflation fears were soothed by talk of a more gradual shift in US monetary policy.

Staff reporter
 Diversified miner Glencore gained in London

Diversified miner Glencore gained in London

The precious metal was worth $1,785/oz on the spot market at the time of writing.

Base metals were buoyant in London, where copper closed up 0.38% to $9,154 per tonne.

Copper stocks in LME warehouses jumped 27.4% last week - the biggest weekly inflow since October last year, while China's copper exports rose for a third straight month in May to the most since March 2020, Marex's Anna Stablum said.

Key markets closed higher.

In London, Glencore closed up 1.2% amid reports it would start commissioning its Mutanda copper-cobalt operation in the Democratic Republic of Congo by year-end ahead of a return to production in 2022.

Finally in Toronto, uranium junior Tisdale Resources (TSXV: TRC) more than doubled yesterday for no discernible reason.

Its shares, which had dipped to C45c in January, closed 165% higher to $1.99, having reached a one-year high of $2 intraday.

TOPICS:

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.

editions

Mining Journal Intelligence Global Leadership Report 2023: Social licence

Gain insights into social licence trends and best practices from interviews with 20+ top mining company executives and an industrywide survey.