Denver — The Dow Jones industrial average edged up 80.11 points, or 0.8%, to finish the Jan. 10-16 report period at 10,652.66, as the market entered what could turn out to be a rocky season for earnings.
Most mining issues were mixed, as spot gold on the Comex division of the New York Mercantile Exchange slipped to US$263.30 before the Jan. 23 Bank of England auction of 25 tonnes of gold. New York Stock Exchange-listed Newmont Mining recovered 25 to close at US$16.88, after falling in the previous week. Homestake Mining picked up 57 to close at US$4.88, while Meridian Gold added 37 to close at US$6.56. Compania de Minas Buenaventura gained 50 to close at US$13.50. On the losing end, AngloGold was down 44 to US$14.06, and Nasdaq-listed Harmony Gold Mining dropped 16 to US$4.62.
Comex copper held firm at US83 per lb., sending Class A and B shares of Freeport-McMoRan Copper & Gold up 63 and 38 to US$8.88 and US$9, respectively. Phelps Dodge plunged $2.19 to US$49.31, while Australia’s BHP dropped 88 to US$21.12.
American Stock Exchange-listed Stillwater Mining reached US$40 per share, up $1.24, as palladium prices stayed above US$1,000 per oz. Silver also showed some life, sending producers up. Coeur d’Alene Mines rose 19 to US$1.19, and Hecla Mining picked up 13 to US75. Apex Silver Mines gained $1.06 to close at US$9.06, as it neared completion of its power needs for the San Cristobal project in Bolivia.
Nasdaq-listed Anglo American jumped a buck to US$57, while Australia’s Western Mining fell 56 to US$16.
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