CAPITAL MARKETS

Spot gold at nine-year high

Follows futures above US$1,800/oz

Staff reporter
 Newcrest Mining’s Telfer gold operations in Western Australia

Newcrest Mining’s Telfer gold operations in Western Australia

It was worth about $1,809/oz at the time of writing, having earlier neared $1,820/oz.

US president Donald Trump didn't share any economic jitters, tweeting yesterday the economy and jobs were growing much faster than anyone - except him - had expected, while China's virus mortality rate was among the lowest of any country.

"Shaping up for a good third quarter, and a great next year!" he said.

North American markets closed higher and the Nasdaq hit a fresh record, while Europe was muted and Australasia mixed.

Market futures are mainly upbeat.

Gold equities enjoyed more support.

Near-term development hopeful Condor Gold (TSX: COG) closed up 44.9% in Toronto on no news, returning towards a one-year high.

On the TSX Venture Exchange, gold and silver explorer StrikePoint Gold (TSXV: SKP) was one of the bigger risers, closing up 42.9%.

The junior, which has two advanced exploration projects in British Columbia's Golden Triangle, gained after announcing a near-C$2 million investment by high-profile investor Eric Sprott which was set to increase his stake to 19.9%.

Finally, Australian gold major Newcrest Mining (ASX: NCM) was up about 2.4% in morning trade.

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.