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Gold below $1,800/oz, uranium above $40/lb

Gold has tumbled below US$1,800 an ounce and most base metals closed lower as COVID-19 concerns again weigh on markets.
Gold below $1,800/oz, uranium above $40/lb Gold below $1,800/oz, uranium above $40/lb Gold below $1,800/oz, uranium above $40/lb Gold below $1,800/oz, uranium above $40/lb Gold below $1,800/oz, uranium above $40/lb

Image: Unsplash.com/André François McKenzie

Staff reporter

Copper closed down more than 1% in London to $9,330.90 per tonne and gold was worth $1,798/oz at the time of writing.

However uranium continued its upward trajectory, gaining about 3.5% to $40.05/lb.

Bitcoin dropped more than 10%, the same day El Salvador adopted the cryptocurrency as legal tender.

Canada-based uranium producer Cameco shot up more than 7% in Toronto as North America returned from the Labour Day break.

Elsewhere, it was generally a muted day for resources stocks.

Junior Westhaven Gold (TSXV: WHN) fell 7.4% after announcing results including 118m at 0.71g/t gold at its Shovelnose project in British Columbia.

Among the majors, Glencore closed down 0.19% in London and Freeport-McMoRan rose 0.61% in New York.

BHP was down almost 0.9% in morning Australian trade.