Gold Prices Decline as Freeport-McMoRan (FCX) Gains
Gold prices experienced a notable decline, with spot gold dropping 1.76% to £2,984.74 per ounce. The trading session showed a volatile pattern, reaching a high of £3,055.60 and a low of £2,956.71. COMEX gold futures also fell by 1.16%, settling at £3,000.20 per ounce.
The Philadelphia Gold and Silver Index rose by 0.42% to 158.42 points. Among its components, Freeport-McMoRan (FCX[1], Financial[2]) saw a significant increase of 4.19%, while Coeur Mining gained 4.12%, and Gold Fields rose by 1.21%. Pan American Silver also performed well, with a rise of 1.77%.
However, some companies in the index faced declines.
First Majestic Silver, Eldorado Gold, and Buenaventura Mining recorded the worst performance, with losses ranging from 2.51% to 2.85%.