Base metals slump, gold steady

By Staff reporter / November 16, 2021 / www.mining-journal.com / Article Link

Slumping coal prices and falling Chinese developers dampened sentiment, Marex's Anna Stablum said from the LME Desk (Singapore).

"Chinese equity indices traded in negative terrain, despite better-than-expected retail sales and industrial production data," she said.

Nickel closed down 1.8% and cash copper lost 1.38%.

US president Joe Biden has just signed the big-spending Bipartisan Infrastructure Deal into law.

He was also set to meet virtually with his Chinese counterpart Xi Jingping.

Meanwhile the UK has raised its terrorism threat level to severe following yesterday's blast outside a hospital in Liverpool.

The spot gold price is similar to yesterday, about US$1,863 an ounce.

Finally, explorer Atex Resources (TSXV: ATX) was a standout in Toronto, closing up almost 58% to C30c.

It had announced a placement to raise up to $7.4 million at 14.25c per unit, to advance its flagship Valeriano copper-gold project in Chile and for general corporate purposes.

Recent News

Uranium volatility after Russia's US export restrictions

November 25, 2024 / www.canadianminingreport.com

Gold stocks rebound on metal bounce and equity rise

November 25, 2024 / www.canadianminingreport.com

Crypto market size continues to catch up with gold

November 18, 2024 / www.canadianminingreport.com

Crypto stealing some of gold's thunder

November 18, 2024 / www.canadianminingreport.com

Gold stocks drop on metal price decline

November 11, 2024 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok