The Dow Jones Industrial average closed the April 15-21 report period at a record high of 9,184.94. The average was up 74.74 points, or 0.8%, for the week.
A surge in the price of gold late in the report period helped gold companies end the week on a strong note. Leading the way was Newmont Gold, which closed up $1.65 at US$33.95, with its parent company, Newmont Mining, ending the week up $1.45 at US$33.40.
Other New York Stock Exchange-listed golds to finish the week on a positive note included Battle Mountain Gold, which was up 70cents to close at US$7.05; silver-gold producer Coeur d’Alene Mines, which closed up 55cents at US$13.05; Ghana’s Ashanti Goldfields, which was up 50cents to US$10.55; and Homestake Mining, which edged up 50cents to close at US$12.
Nasdaq-listed Alta Gold showed the highest percentage gain, closing up 20%, or 41cents, at US$2.41. Lihir Gold closed up $1.15 to US$31.25 after Vancouver’s Vengold expressed an interest in increasing its 10.3% stake in the Papua New Guinea gold mine by using the proceeds from a $46-million financing. Placer Dome plans to invest another $41 million in Vengold, which Vengold, in turn, intends to invest in Lihir.
Over on the American Stock Exchange, Getchell Gold climbed nearly $3 to US$25.20. It was spurred on by gold’s late advance, which also helped Echo Bay Mines climb 37cents to close at US$3.12.
American Depository Receipts for DeBeers Consolidated Mines, listed on Nasdaq, were up $2.56 in heavy trading to close at US$26.
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