Dow, Nasdaq continue to slide

Denver — With the U.S. presidential election still unresolved, the Dow Jones industrial average continued its fall, sinking 186.56 points, or 1.7%, to finish at 10,681.06 at the end of the report period Nov. 15-21. The Nasdaq is down 16% over the past two weeks.

Gold edged up slightly on the Comex division of the New York Mercantile Exchange to US$265.70, prompting gains for some, though, overall, the market was mixed. Newmont Mining picked up a buck to close at US$14.12, while its merger partner, Battle Mountain Gold, added 13 to close at US$1.44. Meridian Gold advanced 44 to close at US$5.19, and Homestake Mining was up 19 to US$3.88. South Africa’s AngloGold shed another 57 to hit a new low of US$12.81, while Nasdaq-listed Randgold Resources lost 34 to finish at US$2.22, also a new low. Junior Canyon Resources slipped 12 to US94.

Phelps Dodge plunged $4.44 to US$44.81 in a weakening copper market, though the Comex spot price held steady at US83 per lb. Australia’s Broken Hill Proprietary picked up 18 to close at US$19.56.

Though silver stayed low, Hecla Mining got a boost from the sale of an industrial minerals subsidiary. The silver miner jumped 24%, up 12 to 62. Apex Silver Mines bounced back 31 to US$9.19, though Coeur d’Alene Mines sunk 13 to a new low of US81.

Rio Tinto dipped $1.06 to US$60.88, after locking up Ashton Mining. De Beers Consolidated Mines was off 50 for the week at US$28.56. Anglo American, which owns a controlling stake in De Beers, shed 62 to end up at US$53.50. Stillwater Mining slipped $1.48 to US$27.72.