The Dow Jones industrial average fell 239.51 points, or 2.2%, during the report period ended Feb. 15 to close at 10,718.09.
Spot gold climbed slightly to US$301.70 per oz. on the Comex division of the New York Mercantile Exchange, reaching as high as US$316 and propelling miners into positive territory. Newmont Mining finished the week up $2 at US$24 a share on the New York Stock Exchange. Battle Mountain Gold clambered up 31 to US$2.31, for a gain of 15%. Gold Fields was also up 15%, having added 69 to close at US$5.38. Mid-sized Glamis Gold picked up 37 to close at US$2.25, a 20% increase.
Other producers showed more modest gains, including: Homestake Mining, which advanced 62 to US$7.56; Anglogold, which rose 31 to US$26.69; and Nasdaq-listed Harmony Gold Mines, which climbed 56 to US$6.94.
Ashanti Goldfields fell 37 to US$2.25 after reaching an agreement with its hedging counterparties.
Palladium and platinum continued skyrocketing, as they shot past US$650 and US$500 per oz., respectively. This sent Stillwater Mining up $5.62 to a new high of US$46.62.
In copper, Class A shares of Freeport-McMoRan Copper & Gold added 31 to close at US$18.31. Phelps Dodge also picked up 31 to close at US$55.69. Australia’s Broken Hill Proprietary fell $1.62 to close at US$22.19.
Meanwhile, De Beers Consolidated Mines was up 50 to US$27.56, whereas Rio Tinto slipped $4.68 to US$69.88.
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