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Futures mixed as US COVID cases increase

Market futures were mixed as the US eyes a rise in COVID-19 cases ahead of the Thanksgiving long weekend.
Futures mixed as US COVID cases increase Futures mixed as US COVID cases increase Futures mixed as US COVID cases increase Futures mixed as US COVID cases increase Futures mixed as US COVID cases increase

Image: Unsplash.com/Martin Sanchez

Staff reporter

The 7-day moving average in daily new cases rose 16.1% compared with a week earlier, to almost 88,500 cases, according to the Centers for Disease Control and Prevention on Friday.

Base metals except tin ended the week higher in London.

Nickel rose back above US$20,000 per tonne, on reports China had launched a new policy that would benefit the use of nickel in batteries, Marex's Anna Stablum said from the LME Desk (Singapore).

Cash nickel gained 2.13% to $20,171/t.

The gold price was under pressure as the US dollar strengthened.

The precious metal was worth $1,843 an ounce on the spot market at the time of writing.

Among the mining majors, Rio Tinto rose 1.82% in London, Barrick Gold lost more than 1% in Toronto and Albemarle gained 2.46% in New York as lithium stocks remain in favour.