CAPITAL MARKETS

Miners lower despite positive market mood

Gold price retreats on strengthening US dollar

Staff reporter
 Downbeat day for miners including Newcrest

Downbeat day for miners including Newcrest

Investors sent Australian gold stocks down today though, with Evolution Mining (AU:EVN) and Newcrest Mining (AU:NCM) among those closing lower.

In North America, Barrick Gold (CN:ABX) and Goldcorp (US:GG) also finished lower, despite hopes of US tax cuts boosting the markets.

Nickel prices closed up yesterday in London but Australian producer Western Areas (AU:WSA) went backwards 3.7%, one of the biggest declines in today's S&P/ASX200 index. Its shares have been on an upward path since mid-year.

Among the diversified majors, BHP (AU:BHP) closed 1.2% lower, following the lead of Rio Tinto's (LN:RIO) drop of almost 1.9% yesterday in London.

Finally, embattled Tanzanian miner Acacia Mining (LN:ACA) lost last week's gains, falling almost 7.6% yesterday on no news.

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