Denver — During the holiday-shortened report period Dec. 27, 2000-Jan. 2, 2001, U.S. markets showed little movement: the Dow Jones industrial average began the first trading day of 2001 down 1.3%, while the Nasdaq plunged 7%. The Dow finished the period off 46.29 points, or 0.4%, to close at 10,646.15, while the Nasdaq sunk to 2,291.86.
Spot gold on the Comex division of the New York Mercantile Exchange slipped to US$268.40, though mining issues were mixed. South Africa’s AngloGold pulled back 38 to US$14.50, while Peru’s Compania de Minas Buenaventura picked up 31 to close at US$14.19. Homestake Mining lost a quarter to close at US$4.25, while Meridian Gold gained 51 to US$6.89. Nasdaq-listed Gold Fields shed 35 to US$3.31. Harmony Gold Mining lost 25 to US$4.53.
Comex copper weakened to US$82 per lb., sending Phelps Dodge down $4 to US$52.94. Class A and B shares of Freeport-McMoRan Copper & Gold slipped 44 and 63, respectively, to close at US$8.12 and US$8.31. Rio Tinto climbed 37 to US$70.12, while Australia’s Western Mining picked up 82 to US$16.94. A group of Peruvians filed a lawsuit in New York against Southern Peru Copper, claiming the Ilo smelter poisoned area residents. Southern Peru dipped 6 to US$12.75.
Silver slid to US$4.59 per oz., sending Coeur d’Alene Mines down 12 to US88. American Stock Exchange-listed Apex Silver Mines dropped 56 to US$8. Platinum-miner Stillwater Mining fell $1.37 to close at US$35.90.
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