Copper price keeps soaring as bullish sentiment prevails; Iron ore price retreats on higher steel inventories in China; Gold price dealt ‘fatal blow’ by bond yield rally

The metal, which surged last year on pandemic-induced haven buying, low interest rates and stimulus spending, has dropped more than 6% in 2021.

The gold miners’ stocks have had a tough week, sinking to marginal new correction lows.

A 25% surge in gold prices last year has offered miners a lifeline following production disruptions due to the covid-19 pandemic.

Barrick says the window has closed on a potential deal with Freeport-McMoRan.

The gold miner has been in discussions with Democratic Republic of Congo over the money for more than a year.

Company flagged on Friday a rise in interim earnings of as much as 219%, driven by higher gold prices, greater output and foreign exchange gains.

The latest release quotes Westwood reserves of 4 million tonnes at 4.9 g/t gold for a total of 626,000 oz, a 47% decrease over the prior year-end.