During the Christmas-shortened report period ended Dec. 28, the Dow Jones industrial average hit an all-time high of 11,476.71 points, climbing 276.17 points, or 2.5%. Consumer confidence is said to be at a 30-year high.
Gold prices also rebounded, the spot price climbing to US$290 per oz. on the Comex division of the New York Mercantile Exchange. However, few producers benefited from the increase. Newmont Mining picked up 56 to close at US$24.81, though Anglogold dropped 43 to close at US$25.38. Ashanti Goldfields fell 38 to US$2.50, whereas Battle Mountain Gold was off 19 to US$2.19.
Nasdaq-listed Durban Roodepoort Deeps added 13 to close at US$1.72, while Peru’s Buenaventura gained 38 to close at US$16.19. Crown Resources was up 43 to US$2.12.
Silver miners continued getting battered, as American Stock Exchange-listed Apex Silver Mines dipped 19 to US$11.69. Coeur d’Alene Mines posted its third straight low, down 19 to US$3.12; Hecla Mining also dropped 19, to a new low of US$1.50.
Improving copper prices propelled Phelps Dodge up $5.25 to US$63.44; Broken Hill Proprietary added 32 to close at US$25.88; Southern Peru Copper was up 31 to US$15. Class A and B shares of Freeport-McMoRan Copper & Gold each jumped $1.31 to close at US$15.69 and US$18.31, respectively.
Be the first to comment on "Miners mixed as gold rises"