CAPITAL MARKETS

Gold gains on disappointing jobs data

Aluminium near 10-year high

Staff reporter
 ASX-listed Alumina Ltd was among the market risers with aluminium near a 10-year high

ASX-listed Alumina Ltd was among the market risers with aluminium near a 10-year high

Total nonfarm payroll employment rose by 235,000 in August, well below reported expectations of 720,000, dimming the likelihood of stimulus tapering.

Gold has risen to almost US$1,830 an ounce on the spot market.

There were mixed moves among base metals on the London Metal Exchange on Friday.

Nickel rose 1.6%, taking it close to the $20,000 mark at $19,829.25 per tonne.

In Australia, Alumina added 6.68% on Friday after aluminium hit a 10-year high during the week of $2,734.50/t.

The uranium spot price is continuing to strengthen, rising 4% to $38.70 per pound, its highest point since March 2015.

Among the mining majors, Fresnillo led gains in London to finish up 3.5% on Friday, while Glencore gained 1.18%.

In New York, gold major Newmont rose 1.64%.

Both US and Canada markets are closed for Labour Day today.

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.