CAPITAL MARKETS

Gold gains on talk of gradual shift in monetary policy

Key markets higher

Staff reporter

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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.

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