U.S. markets enjoyed a small boost over the March 13-19 report period, with the Dow Jones Industrial Average rising 2.9 points to finish at just over 10,635 and the Standard & Poor’s 500 adding 4.7 points to close at a little over 1,170.
In defiance of their product’s depreciation, U.S.-listed gold miners rose over the period: Newmont Mining, the world’s largest producer, climbed 44 to US$24.65; AngloGold edged ahead two pennies to $21.91; Compania de Minas Buenaventura rose 33 to US$22.04; and Gold Fields climbed 38 to US$8.44.
Silver producer Coeur d’Alene Mines joined its product in marching foward, rising three pennies to US$1.22. A deal with Toronto-listed Yamana Resources will see Coeur d’Alene acquire the high-grade Martha underground silver mine on the Bacon property in the southern Patagonia region of Argentina.
Among the base metal issues: Phelps Dodge was up 28 at US$42.17; Freeport-McMoran Copper & Gold‘s B series was up 32 at US$16.10; and Southern Peru Copper was up 45 at US$12.70. Overseas titans Rio Tinto and Anglo American were mixed, with the former springing forward 85 to US$84.25 and the latter slipping backward 38 to US$16.85.
Stillwater Mining jumped 42 to $18.74 as palladium gained $10 in overseas metal markets. Going the opposite way was Anglo American Platinum, the Western World’s largest platinum producer, which slipped 75 to $42.45 as its product retreated from the market.
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