U.S. Markets Aug. 18-24

The market continued its bumpy roller-coaster ride during the Aug. 18-24 session. A major sell-off during the previous trading period was more than offset by a four-day rally that drove the Dow Jones Industrial Average 4.1% higher and pushed the S&P 500 index up 4.7%. The Dow rose 373.9 points to close at 9,509.28 and the S&P 500 tacked on 45.84 points to close at 1,025.57. Indexes reached 10-month highs, but the momentum slowed on Aug. 24 in line with warnings that upcoming reports on consumer confidence and housing could dampen investors’ upbeat moods.

Many metals held steady or improved over the period. Copper was up US15¢ to US$2.89 per lb., nickel gained US25¢ to finish at US$8.90 per lb. and silver was US28¢ higher at US$14.41 per oz.

An improved U. S. dollar sent the price of gold down US$18.75 to US$951.50 per oz., but that didn’t stop the major gold producers from seeing increases in their share prices. Barrick Gold was up US$1.44 to US$34.38, Newmont Mining rose US$1.17 to US$39.94, and Kinross Gold gained US$1.02 to close at US$19.22.

A Royal Bank of Canada report released during the week noted that North American precious metals producers have seen margin increases over the first and second quarters as a result of lower cash costs.

Rio Tinto was the top gainer by value over the period, up US$14.11 per share to finish at US$162.51, followed by Freeport-McMoRan Copper & Gold, up US$6.08 to US$65.44.

Of note, three Freeport employees were detained for questioning in the Democratic Republic of the Congo for alleged misuse of public funds.

Coal company Natural Resource Partners was the top loser by value over the period, falling US94¢ to close at US$18.12. Analysts downgraded their ratings on the company over concerns that it might have to cut distribution because of weak coal contract pricing. The company owns and manages coal properties, coal handling and transportation infrastructure in Appalachia, and the Illinois and Powder River basins.

U. S. most active issues
	VOLUME	WEEK
	(000s)	HIGH	LOW	CLOSE	CHANGE
Alcoa* AA	180284	12.96	12.20	12.42	+ 0.01
Freeport McMo*FCX	78732	67.46	58.50	65.44	+ 6.08
Golden Eagle* MYNG	60140	0.00	1.0E8	0.00	0.00
Barrick Gold* ABX	31219	35.25	32.69	34.38	+ 1.44
PotashCSask*POT	30028	99.00	90.91	96.27	+ 5.15
Newmont Mng* NEM	26727	41.49	38.53	39.94	+ 1.17
Teck B* TCK	25568	27.41	24.36	26.43	+ 1.26
Goldcorp* GG	25038	36.80	33.65	35.63	+ 1.48
Kinross Gold* KGC	24855	19.87	17.96	19.22	+ 1.02
Hecla Mining* HL	24349	3.15	2.82	2.98	+ 0.16

U. S. greatest percentage change
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Radius Gold*	RDUFF	116	0.17	0.12	0.17	+ 41.6
HuntMountain*	HNTM	12	0.22	0.16	0.22	+ 37.5
Global Gold*	GBGD	39	0.18	0.11	0.15	+ 36.3
Dejour Enterp*	DEJ	87	0.37	0.24	0.33	+ 32.0
Cream Mnrls*	CRMXF	12	0.09	0.09	0.09	+ 28.5
Entree Gold*	EGI	1096	1.73	1.31	1.67	+ 27.4
Rubicon Mnls*	RBY	5723	3.21	2.47	3.10	+ 25.5
Mechel*	MTL	7293	12.93	10.10	12.54	+ 23.3
Westmoreland*	WLB	153	10.25	7.88	9.52	+ 22.2
Fronteer Dev*	FRG	2519	4.64	3.45	4.30	+ 21.4
New Jersey Mg*	NJMC	14	0.25	0.19	0.25	-24.2
US Antimony*	UAMY	52	0.51	0.37	0.39	-18.7
Canarc Res*	CRCUF	51	0.10	0.09	0.09	-18.1
Alberta Star *	ASXSF	683	0.16	0.09	0.11	-15.3
Uranium Star*	URST	3301	0.45	0.35	0.35	-14.6
L&L Intl Hldg*	LLFH	308	4.90	3.60	4.10	-11.2
Solitario Res*	XPL	211	1.99	1.75	1.76	-10.6
Elray Res*	ELRA	25	0.17	0.15	0.17	-10.5
Tri-Valley*	TIV	262	1.00	0.86	0.86	-10.4
Dominion Mnls*	DMNM	18	0.14	0.09	0.14	-6.6

U. S. greatest value change
WEEK
	VOLUME	CLOSE	CHANGE
Rio Tinto* RTP	3444846	162.51	+ 14.11
Freeport McMo* FCX	78731903	65.44	+ 6.08
Potash C Sask* POT	30028043	96.27	+ 5.15
BHP Billi-BBL* BBL	7409050	53.41	+ 4.18
Agnico-Eagle* AEM	12623470	56.87	+ 3.94
BHP Billi-BHP* BHP	17301332	63.91	+ 3.71
Southern Copp* PCU	17991890	29.13	+ 3.21
Agrium* AGU	1858600	48.79	+ 3.06
Massey Energy* MEE	17820639	30.46	+ 2.78
CONSOL Energy* CNX	10257172	40.93	+ 2.78
Natural Rs Pt* NRP	307000	18.12	-0.94
L&L Intl Hldg* LLFH	307606	4.10	-0.52
Seabridge Gld* SA	783365	27.38	-0 .32
Solitario Res* XPL	210622	1.76	-0.21
Mag Silver* MVG	60300	4.60	-0.17
NovaGold Res* NG	6818676	3.47	-0.12
Tri-Valley* TIV	261713	0.86	-0.10
US Antimony* UAMY	52000	0.39	-0.09
New Jersey Mg* NJMC	14100	0.25	-0.08
Uranium Star* URST	3301448	0.35	-0.06