Agnico-Eagle (NYSE:AEM) was able to trade in positive territory on Thursday even as gold prices closed down on the day.
Gold for June delivery closed down $3.40, or 0.2 percent, at $1,492.40 a troy ounce on the Comex division of the New York Mercantile Exchange.
Silver prices ended the session down. July delivery for silver fell 16.5 cents, or 0.5 percent, to $34.932 a troy ounce.
The ICE Futures' dollar index was down 0.5 percent at 75.106. The U.S. dollar was down against most of its major peers at the end of trading Thursday.
Extremely bad news on Obama's economy pressured the commodity sector.
July contracts had copper falling 5.25 cents to settle at $4.0525 a pound and platinum dropped $10.90 to $1,769 an ounce. June palladium settled down $9.05 at $728.15 an ounce.
Housing sales and manufacturing data revealed an ongoing weak and fragile American economy.
Agnico-Eagle Mines Limited participates in the exploration, development, and production of mineral properties in Canada, Finland, Mexico and the United States. Measured by reserves, it has the largest operating gold mine in Canada, the LaRonde mine. The company also explores for silver, copper lead and zinc.
Agnico-Eagle (NYSE:AEM) closed Thursday at $62.90, gaining $0.35, or 0.56 percent.
No comments:
Post a Comment