The Dow Jones industrial average climbed 13.96 points, or 0.1%, to 11,511.08 in volatile trading during the report period ended Jan. 11.
Mining issues were higher as spot gold on the Comex division of the New York Mercantile Exchange ticked up a couple of notches to US$283.40 per oz. Responding well to the increase, South Africa’s Anglogold gained $1.12 to close at US$26.06. A big percentage winner this week was Ashanti Goldfields, showing a 40% increase to close at US$3.75, up $1.13. Disgruntled shareholders were calling for a special shareholders’ meeting to elect a new board of directors. Ghana’s High Court was to have decided the matter on Jan. 13.
New York Stock Exchange-listed Newmont Mining picked up 50 on heavy trading to close at US$22.50; its Yanacocha-partner, Buenaventura, added 25 to close at US$16.38. Battle Mountain Gold advanced 12 to close at US$2.06, though Homestake Mining declined 44 to US$7.25 on heavy trading.
Comex spot copper held steady at US84 per lb., pushing Phelps Dodge up 88 to US$66.88. Rio Tinto fell off its high, tumbling $2 to US$93.25. Class A and B shares of Freeport-McMoRan Copper & Gold were mixed, closing up 37 at US$17.75 and down 12 to US$19.88, respectively.
Silver companies were also mixed as the spot price held firm at US$5.16 per oz. Coeur d’Alene Mines edged up 25 to US$3.81, while American Stock Exchange-listed Apex Silver Mines dipped 88 to US$11.
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