Materials Down After Stimulus Bill Talks Stall -- Materials Roundup
|07/31/2020 | 05:57pm|
Producers of metals and other raw materials fell after congressional negotiators failed to reach a deal on an economic stimulus bill.
"We need a stimulus package to cushion the downside, to get us to the other side, a bridge to a spending [recovery]," said Quincy Krosby, chief market strategist at Prudential Financial. "That's the problem."
Gold futures rose 1% Friday to close at a fresh record high of $1985 an ounce, as continued Covid-19 worries and a slide in the relative value of the dollar stirred major gains for the safe-haven on the week and the month.
Rambler Metals & Mining said talks continue with a substantial shareholder and existing lender for a new capital injection which will go towards the Ming Copper-Gold Mine in Canada.
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