In case you missed it, here is this week’s resource big news roundup.
On Tuesday, the S&P/TSX Composite Index (INDEXTSI:OSPTX) was on the rise in response to overnight tariff news out of China. However, news surfaced that the Democrats may take steps towards the impeachment of US President Donald Trump. The potential impeachment did not have a significant effect on the price of gold, which remained steady throughout the day. Gold prices were not able to hold their favorable position throughout the week, contributing to a sharp fall for the index on Friday. A drop in oil prices also contributed to the downturn of the index.
As for the S&P/TSX Venture Composite Index (INDEXTSI:JX), it fell throughout the week. All but two of the 12 Toronto subgroups plunged into the red this morning. Gold experienced a 2.4 percent loss while healthcare took a 2.3 percent drop and materials shed 1.6 percent. The two gainers this morning were consumer discretionary stocks, which edged up 0.2 percent, and financial stocks, which just cleared breaking even at 0.01 percent.
In case you missed it, here is this week’s resource big news roundup:
- Fidelity Minerals Strengthens Project Portfolio
- NV Gold Expands Property Position by Over 50 Percent at its High-Grade Root Spring Gold-Silver Project in Nevada
- Western Copper and Gold Intercepts 55.1 g/t Gold Over 2.97 Metres at Casino
- Silver Spruce Announces Melchett Lake VMS Project Acquisition