The trading period April 30-May 5 was broadly positive for U.S. markets, with the Dow Jones Industrial Average advancing 85.37 points to 8,588.36 and the broader-based Standard & Poor’s 500 index up 16.55 to finish at 934.39 points.
Steadily rising gold prices — aided by a falling U.S. dollar — meant the golds picked up the best gains. Newmont Mining was up US$2.11 to $28.45, while trans-Atlantic rival AngloGold tacked on US$2.61 to finish at US$30.55. Gold Fields rose a comparatively modest US17 to close at US$10.13, while Ashanti Goldfields picked up US82 to finish the period at US$5.99.
The gains were even more pronounced among the mid-tier and small gold producers. Harmony Gold was up US94 at US$11.41, while Durban Roodepoort Deeps tacked on US21 for a close of US$2.42. Two big gainers were Hecla Mining, up US56 at US$4.23, and Randgold Resources, which closed at US$17.05, up US$2.09.
Platinum-group producers felt the effect of firming prices for the white goods. Stillwater Mining was up US79 at US$3.32, while South African miner Anglo American Platinum jumped US$3.80 to US$31.80.
On the base metal side, Anglo American saw the biggest percentage gain among the majors, adding US$1.17 to finish at US$14.92. Phelps Dodge was US36 better at US$31.96, and Freeport-McMoRan Copper & Gold rose US75 to US$18.20. One of the few mining stocks to lose ground was Australian producer WMC, which was off US13 at US$10.67.
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