Weekly Round-Up: Gold Price Recovers from Four-week Low
Heightened geopolitical tensions between the US and North Korea pushed the gold price up on Friday, but it is still below $1,300 per ounce.
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Heightened geopolitical tensions between the US and North Korea pushed the gold price up on Friday, but it is still below $1,300 per ounce.
The gold price edged lower on Friday and was headed for a weekly loss after a North Korean missile test brought little reaction from investors.
Gold climbed on Friday after weaker-than-expected US jobs data cast doubts on further Fed interest rate hikes. In August the metal rose 4.1 percent.
The zinc-focused base metals miner has officially closed its acquisition of a portfolio of zinc assets from major miner Glencore.
By Shelly Kumar
Trevali Mining Corporation (“Trevali” or the “Company”) (TSX:TV) announces it has completed the acquisition (the “Transaction”) of a portfolio of zinc assets from Glencore PLC (“Glencore”), and certain of its subsidiaries, including an 80% interest in the Rosh Pinah mine in Namibia (“Rosh Pinah”), a 90% interest in the Perkoa mine
Many experts are warning that copper’s price rally could be overhyped, and that a price correction may be just around the corner.
The gold price rose above the $1,300-per-ounce mark as geopolitical uncertainty boosted precious metals demand.
Last week’s other top-gaining TSX stocks were HudBay Minerals, Nautilus Minerals, Copper Mountain Mining and Leagold Mining.
Last week’s other top-gaining TSX stocks were Lithium Americas, Fission Uranium, Teck Resources and INV Metals.
The gold price fell on Friday after a stronger-than-expected US employment report.
Oil prices surged toward the $50-a-barrel-level this week but pulled back on OPEC uncertainty.
The gold price rose on Friday as the US dollar fell against the euro.
Last week’s other top-gaining TSX stocks were Katanga Mining, Hudbay Minerals, Red Eagle Mining and Ivanhoe Mines.
The gold price edged lower on Friday after a stronger-than-expected US jobs report increased fears of another rate hike.
Last week’s other top-gaining TSX stocks were Lydian International, Wellgreen Platinum, Trevali Mining and Alamos Gold.
The gold price is on track for a weekly gain, supported by political uncertainty and a weaker dollar.
Last week’s other top-gaining TSX stocks were Katanga Mining, Sherritt International, eCobalt Solutions and Alamos Gold.
The gold price was set to touch a six-week high on Friday after a disappointing US jobs report.
Silver, copper and oil are also on track to make gains this week.
Last week’s other top-gaining TSX stocks were Mega Uranium, Avesoro Resources, Largo Resources and Corvus Gold.
