CAPITAL MARKETS

Tax uncertainty weighs on global markets

Provides boost to gold price

Staff reporter
 Gold equities boosted by tax uncertainty

Gold equities boosted by tax uncertainty

It was still trading above $1,290/oz earlier today.

In Toronto, both Barrick Gold (CN:ABX) and Goldcorp (CN:G) closed up more than 1% on Friday to C$17.96 and C$17.10 respectively.

Gold miner AngloGold Ashanti (AU:AGG) was up 3.1% at market close in Australia, while diversified major BHP (AU:BHP) was unchanged and Rio Tinto (AU:RIO) closed down about 0.1%.

European markets are yet to fully respond to coalition talks failing in Germany over the weekend, which has thrown the country into political turmoil.

In Australia, the benchmark S&P/ASX200 today followed the lead of key indices that finished slightly lower on Friday, with the FTSE 100 down 0.08% and the S&P500 down 0.26% in the US, closing 0.2% lower.

Nickel miner Western Areas made a positive move, gaining 2.62% after the nickel price rose 2% on Friday on the London Metal Exchange.

Meanwhile, analysts await the release on Wednesday of the minutes from the US Federal Reserve's latest policy meeting, which is expected to provide a better indication of the likelihood of an interest rate rise in December.

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