CAPITAL MARKETS

S&P 500 sets fresh record high

Gold, Greatland gain but i-80 dips on debut

Staff reporter

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Led by the tech sector, the benchmark index in New York closed up 0.33% yesterday to 4,141.59.

The gold price has gained from this point yesterday, to US$1,745 an ounce on the spot market.

Talk of rising US inflation could further improve sentiment for gold as a hedge against inflation.

Nevada-focused i-80 Gold (TSX: IAU), a spin-out following Equinox Gold's acquisition of Premier Gold Mines, lost 7.7% on its debut yesterday to close at C$2.40.

Junior NSGold Corp (TSXV: NSX) meanwhile shot up more than 79% in Toronto on no news since last year's resource update for its Mooseland gold property in Nova Scotia.

Greatland Gold (AIM: GGP), which has the Havieron gold development project in Western Australia's Paterson Province with Newcrest Mining, was one of the market risers in London.

The company closed up 18.99% on no news, likely buoyed by Rio Tinto's announcement this week it would bolster the 2021 exploration budget at its nearby Citadel joint venture  from A$13.8 million to $24.5 million. 

Rio Tinto closed almost 1% higher in London.

Copper major Freeport-McMoRan gained 0.18% in New York and BHP was up slightly in morning Australian trade.

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