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Miners lower despite positive market mood

Posted by: Admin | Posted on: November 30th, 2017 | 0 Comments

Investors sent Australian gold stocks down today though, with Evolution Mining (AU:EVN) and Newcrest Mining (AU:NCM) among those closing lower.

In North America, Barrick Gold (CN:ABX) and Goldcorp (US:GG) also finished lower, despite hopes of US tax cuts boosting the markets.

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Nickel prices closed up yesterday in London but Australian producer Western Areas (AU:WSA) went backwards 3.7%, one of the biggest declines in today’s SP/ASX200 index. Its shares have been on an upward path since mid-year.

Among the diversified majors, BHP (AU:BHP) closed 1.2% lower, following the lead of Rio Tinto’s (LN:RIO) drop of almost 1.9% yesterday in London.

Finally, embattled Tanzanian miner Acacia Mining (LN:ACA) lost last week’s gains, falling almost 7.6% yesterday on no news.

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