CAPITAL MARKETS

Gold lower again

Australian gold miners up

Staff reporter
Pinos project holder Candelaria on the rise

Pinos project holder Candelaria on the rise

In Australian dollar terms, gold was a little lower around A$1,702/oz but only back to where it was at the start of this month, well above its mid-December mark of about $1,634/oz.

The metals and mining sector on the benchmark S&P/ASX200 index was up more than 1.2% in afternoon trade.

Its gold sector continued to shine, up a collective 1.46% at the time of writing.

Among the diversifieds, BHP (ASX: BHP) was up 1.8% this afternoon, following Rio Tinto's gain of 1.96% in London yesterday.

On the S&P/TSX Composite Index, miners had closed down 0.33% yesterday but the gold sector just managed to finish in positive territory, up 0.01%.

Centerra Gold (TSX: CG) led the way with a 5.23% gain as it completed the sale of its royalty portfolio.

Mexico-focused juniors were on the rise on the TSX Venture Exchange.

Candelaria Mining (TSXV: CAND) closed up 25% to C75c yesterday despite no news since May 2, when it announced it was given the environmental go-ahead for its Pinos gold project in Mexico.

And Ridgestone Mining, which completed a C$900,000 (US$675,000) raising earlier this month and gained regulatory approval on the option to acquire the Rebeico gold-copper property in Mexico, rose just over 42% to C27c.

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