U.S. stock markets advanced modestly over the five trading days May 7-13, with the Standard & Poor’s 500 index up 7.91 points at 942.30 and the Dow Jones industrial average 90.89 points higher at 8,679.25. At the same time, the mining stocks showed new volatility.
The U.S.-listed golds were a mixed bag: Newmont Mining headed downward, falling US44 to US$28.01 in tandem with the Toronto golds; it was joined by Durban Roodepoort Deeps, which fell US12 to US$2.30, and Hecla Mining, which slid US22 to US$4.01. AngloGold was off just US3 at US$30.52.
Meanwhile, many of the offshore companies saw increases. Ashanti Goldfields picked up US66 to close at US$6.65, while Gold Fields added US44 to finish at US$10.57. Randgold Resources was US75 better at US$17.80, and Harmony Gold was up US63 at US$12.04.
Stillwater Mining was down US7 to US$3.25, but Anglo American Platinum picked up US$1.20 to close at US$32.
Silver producer Coeur d’Alene Mines was up a nickel at US$1.55, while Apex Silver added US17 to finish at US$14.35.
Base metals were led by Phelps Dodge, which rose US$2.33 to US$34.29, and Freeport-McMoRan Copper & Gold, which added US$1.05 to finish at US$19.25. WMC was up US18 at US$10.85, CVRD up US62 at US$29.29, and Southern Peru Copper US6 higher at US$15.76. The Big Three cathode-makers all declined: Anglo American by a dime to US$14.82, BHP Billiton by US19 to US$11.20, and Rio Tinto by US59 to US$76.52.
Be the first to comment on "Miners have volatile week"