The Dow Jones industrial average rose 104.86 points, or 1%, to close at 10,527.13 for the report period ended May 30 on the strength of a late-week surge by the Nasdaq.
Gold miners were mixed as the gold price edged lower. The Comex spot price for gold on the New York Mercantile Exchange slid to US$272.30 per oz., which sent Newmont Mining down $1.38 to close at US$24.08. Also losing steam were Buenaventura, which lost 62 to close at US$16, and Ghana’s Ashanti Goldfields, down 25 to US$1.75. However, South Africans made a comeback, with AngloGold leading the charge. The major was up 92 to US$19.44 after setting a new low last week. Also, Nasdaq-listed Gold Fields picked up 47 to close at US$3.68, and Randgold added 28 to US$3.28.
Copper prices fell to US81 per lb. on Comex, sending producers lower: New York Stock Exchange-listed Phelps Dodge plunged $4.25 to US$46.31; Rio Tinto lost $7.12 to close at US$58.88; and class B shares of Freeport-McMoRan Copper & Gold dipped 50 to US$9.56, closing in on a new low. Also down was Southern Peru Copper, which lost 31 to close at US$11.94. However, Broken Hill Proprietary bucked the downward trend, climbing 94 to US$20.50.
American Stock Exchange-listed Apex Silver Mines added 75 to close at US$12, even though silver dipped below US$5 per oz. Nasdaq-listed Crown Resources meanwhile lost 16% of its value, falling 13 to US68.
Platinum-miner Stillwater Mining ended its losing ways, picking up 26 to close at US$27.88.
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