S&P 500 record, gold above $2,000/oz

By Staff reporter / August 19, 2020 / www.mining-journal.com / Article Link

The index ended at 3,389.78 points, above the previous record close of 3,386.15 set on February 19, marking the end of the shortest bear market on the S&P 500, Reuters reported.  Gold has risen back above US$2,000 an ounce, a benchmark breached last week for the first time. It was worth $2,002.50/oz at the time of writing. Gold stocks gaining in Toronto included Sabina Gold and Silver (TSX: SBB), which hit a 52-week high and closed up about 9%. Silver was above $28/oz earlier but at $27.80oz on the spot market at the time of writing. IG's Kelvin Ong noted the gold-silver ratio was now down to a 3.5-year low. Among the majors, Newmont closed down almost 1% in New York. Glencore lost a similar amount in London, while both Fresnillo and Antofagasta were up about 1%. Finally, BHP was down slightly in morning Australian trade.

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