CAPITAL MARKETS

Market futures, Trump upbeat

General Moly slumps

Staff reporter
 US president Donald Trump, speaking earlier from the medical centre

US president Donald Trump, speaking earlier from the medical centre

Trump posted a video a short while ago, thanking everyone at the "incredible" Walter Reed military medical centre and the enthusiastic supporters waiting outside.

The gold price has zig-zagged around the US$1,900 mark over the past 24 hours and was just 20c below the psychological benchmark at the time of writing.

The copper price slid on Thursday as China began a week-long holiday but closed up 2.7% on the London Metal Exchange on Friday.

US Federal Reserve chairman Jerome Powell is expected to call for more stimulus measures in a speech scheduled for tomorrow as the economic fallout from the coronavirus pandemic continues.

Among the mining majors, Rio Tinto finished up almost 1% in London on Friday.

Gold majors Newmont and Barrick Gold closed down about 1% in New York and Toronto respectively.

Finally, US molybdenum hopeful General Moly (TSX: GMO) plunged 68% to a one-year low of C4c on news regulators were preparing to delist it from the NYSE American exchange after it fell below compliance with equity requirements.

The company said it had a significant working capital deficit and "substantial doubt" remained about its ability to continue as a going concern.

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