Pandemic, economic woes spread

By Staff reporter / March 30, 2020 / www.mining-journal.com / Article Link

There were 63,159 new confirmed cases of the virus yesterday, taking the global tally to 634,835 people, according to the World Health Organisation.

The number of deaths increased by 3,464 to 29,957.

The oil price has tumbled towards US$20 per barrel while gold is worth about US$1,630 an ounce on the spot market.

"In China, workers are returning to factories just to be told about delayed or cancelled orders from the rest of the world with Macquarie forecasting at least a 10% drop in Chinese exports this year," Marex Spectron's Anna Stablum said on Friday afternoon.

North American and European indices had closed lower on Friday while Australasian markets were mixed.

Metals and mining stocks finished the week down 6.8% in Toronto.

Among the global majors, Glencore (LSE: GLEN) lost 6.16%, Newmont (NYSE: NEM) closed down 4% on Friday and BHP (ASX: BHP) was down 2.6% in morning Australian trade today.

 

Recent News

Immediate trigger for crash was new Fed Chairman pick

February 02, 2026 / www.canadianminingreport.com

Gold stocks slump on metal price decline

February 02, 2026 / www.canadianminingreport.com

Is the gold market starting to turn 'irrationally exuberant'?

January 26, 2026 / www.canadianminingreport.com

Gold stocks explode up as equity markets languish

January 26, 2026 / www.canadianminingreport.com

Gold stocks outpace flat large caps

January 19, 2026 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok