Ivanhoe Mines Ltd. (NYSE:IVN) traded down as gold prices fell slightly on Thursday.
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.
Ivanhoe Mines Ltd. targett resources primarily in the Asia Pacific region. That includes its flagship project the Oyu Tolgoi copper and gold mine located in southern Mongolia, which it has a 66 percent stake in; a 62 percent stake in Ivanhoe Australia; a 57 percent stake in SouthGobi Resources, a Mongolian coal miner; and a 50 percent interest in the Kyzyl Gold Project located in in Kazakhstan.
Ivanhoe Mines Ltd. (IVN) closed Thursday at $25.06, falling $0.21, or 0.83 percent.
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