CAPITAL MARKETS

Markets remain turbulent

Markets look set to remain volatile as Omicron worries remain, geopolitical tensions rise and US jobs data came in below expectations on Friday.

Staff reporter
 Market riser Newmont’s Yanacocha JV operations in Peru

Market riser Newmont’s Yanacocha JV operations in Peru

Investors are now looking out for the US consumer price index figures, with the headline number tipped to reach 6.7%, the highest since 1982.

"These are turbulent markets, and with such huge event risk this week, and the market unlikely to get a genuine understanding of the efficacy of the vaccines towards Omicron it doesn't feel like we're in for a period of calm," Pepperstone head of research Chris Weston said.

The gold price remains below US$1,800 an ounce, at $1,782/oz on the spot market.

Base metals closed mixed on the London Metal Exchange, where copper lost more than 1% and nickel gained 0.5%.

Iron ore came under pressure while steel finished products rallied, Marex's Al Munro said on Friday.

"This is largely driven by the Tangshan Municipal government reinstating level 2 pollution alerts starting from this morning until the 10th of December," he said.

"This implies more sintering plants and blast furnaces will be required to further cut production."

Rio Tinto and Anglo American both closed about 3% lower in London, while gold major Newmont rose 2.6% in New York.

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 Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

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.