CAPITAL MARKETS

Gold gains on talk of gradual shift in monetary policy

Key markets higher

Staff reporter
 Diversified miner Glencore gained in London

Diversified miner Glencore gained in London

The precious metal was worth $1,785/oz on the spot market at the time of writing.

Base metals were buoyant in London, where copper closed up 0.38% to $9,154 per tonne.

Copper stocks in LME warehouses jumped 27.4% last week - the biggest weekly inflow since October last year, while China's copper exports rose for a third straight month in May to the most since March 2020, Marex's Anna Stablum said.

Key markets closed higher.

In London, Glencore closed up 1.2% amid reports it would start commissioning its Mutanda copper-cobalt operation in the Democratic Republic of Congo by year-end ahead of a return to production in 2022.

Finally in Toronto, uranium junior Tisdale Resources (TSXV: TRC) more than doubled yesterday for no discernible reason.

Its shares, which had dipped to C45c in January, closed 165% higher to $1.99, having reached a one-year high of $2 intraday.

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