CAPITAL MARKETS

Gold drops below US$1,300/oz

Lowest level since late December

Staff reporter

This article is 6 years old. Images might not display.

However gold's best days are still in front of it, the inaugural ResourceStocks conference in Sydney was told today.

Gold was trading around $1,294/oz on the spot market at the time of writing.

Unsurprisingly, gold equities have been affected by the precious metal's slide.

On the S&P/TSX Composite Index yesterday, the metals and mining was down 1.47% with the gold patch worst hit, down 1.77%.

West African-focused gold miner SEMAFO (TSX: SMF) fell the most, down 4.57% and Yamana Gold (TSX: YRI) dropped 3.73%.

Endeavour Mining (TSX: EDV) was the best of the four companies on the gold list managing a gain yesterday, with a slight rise of 0.74%.

On London's FTSE100, precious metals miner Fresnillo (LSE: FRES) down 3.38% as the metals and mining sector lost 0.97%.

Australia's gold sector followed suit today, down about 1.7% in afternoon trade while the diversifieds on the S&P/ASX200 were up around 1% collectively.

Gold producers Newcrest Mining (ASX: NCM) and Resolute Mining (ASX: RSG) were both down more than 2% at the time of writing.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

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.