During the report period ended Jan. 16, the Toronto Stock Exchange mounted a modest recovery from the previous week, adding 171.97 points to close at 8,744. But the base metals, which had largely escaped the broad market’s poor showing in the previous report period, and the golds, which had not, both declined as the heavily weighted industrial-products sub-group carried most of the gains.
The golds fell 45.98 points to finish at 4,104.51, as prices on the London bullion market slid steadily. The morning fix price from the Five was US$263.10 on Jan. 17, down US$3.60 from the previous Wednesday and its lowest fix since September 1999. There are presumably some nerves frayed over the looming Bank of England gold auction (scheduled for Jan. 23), and demand has not picked up in what is usually a strong buying season for physical metal.
Palladium took a bit of a breather, shedding US$21 for a fix of US$1,026 per oz. on Jan. 17. Platinum was off US$9 at US$628 over the same period, whereas silver picked up US14 to finish at US$4.67.
The Toronto-listed golds were almost uniformly lower.
Among the mid-sized producers,
On the diamond side of the sub-group,
On the London Metal Exchange, most of the base metals changed little over the period, except nickel, which rose US12 to US$3.25 per lb. The TSE metals and minerals sub-group was 71.63 points lower at 3,727.39, reflecting a $1.10 fall for
Among the Toronto juniors,
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