The Dow Jones industrial average gained 15.21 points, or 0.15%, during the report period ended March 14 to close at 9,811.24 in turbulent trading.
The uncertainty in the broader market had little effect on gold, as the spot price edged lower in anticipation of Britain’s fifth 25-tonne gold sale, on March 21. On the Comex division of the New York Mercantile Exchange, the yellow metal was US$288.30 per oz.
South Africa’s AngloGold lost ground, falling $1.88 to US$25.44, while Homestake Mining slipped 44 to US$6.50 on the New York Stock Exchange. Meanwhile, Ashanti Goldfields was off 19 to US$2.12 and Gold Fields slipped 25 to US$4.56, though Peru’s Buenaventura bucked the trend, climbing 38 to US$19.38.
In copper: Phelps Dodge dropped $1.93 to US$45.19; Class A shares of Freeport-McMoRan Copper & Gold fell $1.32 to close at US$12.62; Southern Peru Copper closed down 44 to US$13.44; Rio Tinto slid $1.31 to US$60.25; and Australia’s Broken Hill Proprietary gained $1.68 to close at US$21.56.
Among other commodities: diamond king De Beers Consolidated Mines edged down $1.50 to US$22.75; platinum-producer Stillwater Mining picked up $1.25 to close at US$41.50; and silver miner Coeur d’Alene Mines dipped 31 to US$3.44, nearing 12-month lows.
Nasdaq-listed MK Gold added 13 for the week to US88, up 15%. Junior Crown Resources also rose 15%, up 19 to US$1.38. Royal Gold lost 31 to US$3.81.
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