Dow clears 10,000 again

Denver — The Dow Jones industrial average rallied 617.03 points, or 6.5%, in the report period ended April 10, after a disastrous previous week, to close at 10,102.74.

Mining issues were dragged along for the ride during the frenzied buying, though spot gold on the Comex division of the New York Mercantile Exchange edged up only slightly to US$257.30 per oz. AngloGold surged $1.88 to US$16.13, while Newmont Mining gained 52 to close at US$16.98 on heavy trading on the New York Stock Exchange. Homestake Mining climbed 64 to US$5.73, while Nasdaq-listed Gold Fields picked up 17 to close at US$4.08 and Durban Roodepoort Deeps advanced 14 to US98. Meridian Gold enjoyed a 30 increase, closing at US$7, while Glamis Gold missed the party, falling 18 to US$1.82.

Comex copper held firm at US77 per lb., though Phelps Dodge gained $1.62 to close at US$41.49. Class A and B shares of Freeport-McMoRan Copper & Gold jumped $1.02 and $1.21 to close at US$12.30 and US$13.70, respectively. BHP added $1.30 to close at US$20.70, while WMC rose 85 to US$17.15. Other mining houses followed suit, including Rio Tinto, which surged $9.42, nearing a new high, to US$76.91. Anglo American advanced $7.45 to US$60.26, sending takeover target De Beers Consolidated Mines up $4.20 to US$40.08. Platinum-miner Stillwater Mining rebounded $3.15 to close at US$27.15.

Among the juniors, Silverado Gold Mines fell 22 to US38 after last week’s big gain, and Royal Gold slipped 20 to US$2.55 after picking up an additional royalty at Nevada’s Pipeline operation. Sunshine Mining & Refining dipped 25 to US$1.25.