Gold closed up US$2.95 over yesterday, to finish the week at US$397.75 per oz. in the afternoon in London. The gold index was up by 0.02%, or 0.04 point, to close at 198.99. The diversified metals and mining index was down 0.72%, or 1.16 points, to close at 223.42 points. The S&P TSX composite index was down 0.68%, or 58.27 points, to close at 8,487.31 points.In a weak final day of trading, following the Canada Day July 1 holiday, just two mining stocks traded over 2 million shares each.
Wheaton River once again led the way in volume, trading 2.98 million shares. Shares were up 1.87%, or 7, to close at $3.81. Coeur d’Alene Mines was up 5.7% on the New York stock exchange.
Iamgold was down 0.40%, or 3, to close at $7.43 on a volume of 1.86 million shares. Golden Star closed up 2%, or 13 to close at $6.36 on a volume of 773,000 shares.
Thistle Mining traded second in volume, with slightly over 2 million shares changing hands. The shares were up 4%, or 0.5, to close at 13.5. There was no news to account for the action.
Defiance Mining was up by 1.1%, or 0.5, to close at 46, on a volume of 1.7 million shares. Two days ago Rio Narcea Gold Mines reported that it plans to acquire Defiance Mining.
Tahera Diamond traded 1.09 million shares and closed down 2.7%, or 1, at 36.