Weaker-than-expected U.S. employment news sent the price of gold up, while the Dow Jones industrial average climbed 208.44 points, or 1.9%, to 10,735.57, during the report period ended June 6.
Continued short covering pushed spot gold on the Comex division of the New York Mercantile Exchange to US$289 per oz. Producers across the board benefited from the increase, including: South Africa’s AngloGold, which jumped $2.18 to US$21.62; New York Stock Exchange-listed Newmont Mining, which picked up $1.44 to close at US$25.50 on heavy trading; Homestake Mining, which gained 50 to close at US$7.50; and Battle Mountain Gold, which tacked on a quarter to close at US$2.25. Also up were Meridian Gold, which added 31 to close at US$6.25, Nasdaq-listed Harmony Gold Mining, which jumped 74 to US$5.62, and Rio Tinto, which rose $2.58 to US$61.44.
Copper continued its slump, dipping to US80 per lb. on the Comex. The drop affected red metal producers Phelps Dodge, which slipped 37 to US$45.94, and Southern Peru Copper, which slid to US$11.69, down 25.
Silver held firm, pushing American Stock Exchange-listed Apex Silver Mines up 75 to US$12.75, while Coeur d’Alene Mines gained 31 to US$2.81.
The rising tide was felt in other commodities, as Diamond miner De Beers Consolidated Mines rose 82 to US$22.94, and platinum-miner Stillwater Mining advanced $1.93 to US$29.81.
Among the juniors, Nasdaq-listed Royal Gold picked up 38 to close at US$3, while diamond-miner Global Diamond Resources gained 13 to close at US66.
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