Union files complaint against Orla Mining, alleging violation of worker rights in Mexico
The complaint is only the second of its kind made from Canada using CUSMA’s RRM process since the trade deal came into force in 2020.
Friday was a good day to be a gold miner. Anything having to do with gold did well after May’s employment numbers were announced.
The Market Vectors Junior Gold Miners ETF (NYSEARCA:GDXJ) gained 6.83% to $20.64. The index tracks publicly traded small- and medium-capitalization companies that generate most of their revenue from gold and silver mining. The SPDR Gold Shares (NYSEARCA:GLD), which tracks the prices of physical gold, was up 3.88% to 157.50, a three-week high.
The stampede to gold was also good for the majors. The world’s number one gold miner by market capitalization, Barrick Gold (NYSE:ABX), was up 7.30% to $41.91 a share. Kinross Gold (NYSE:KGC) gained 7.03% to $8.53 a share, and Goldcorp jumped 8.57% to $40.93 a share.
The S&P/TSX Venture Composite Index squeaked out a modest gain on the back of gold miners, closing 0.14% higher to 1.291.59.
The S&P/TSX was down, like the rest of the major markets, by 1.32% to 11,361.20.
In the US, the Dow Jones fell 2.22% to 12,118.57 and the S&P 500 was off 2.46% to 1,278.04.
Comex gold was up 3.73% to $1,622.50 and Comex silver was up 2.72% to $28.512, while crude oil was off 3.04% t 83.90 a share.
The US economy added just 69,000 jobs in May, less than half the consensus forecast of 150,000. The rate of unemployment ticked up from 8.1% to 8.2%.
