Oreninc index moving upwards to healthy levels
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Last Week: 60.93
This week: 89.45
The Oreninc Index increased in the trading week ending February 12th, 2021 to 89.45 from 60.93 a week ago as financing activity picked up, and the index slowly but surely is moving back to the ‘healthy’ 100 level.
On to the money: the aggregate financings announced increased to $259.6 million, a 3-week high, with 11 new brokered financings and 10 new bought-deal financings announced. The average offer size decreased to $2.6 million, a 2-week low, and the number of financings decreased to 35.
Gold closed the week slightly higher at $1,823/oz from $1,813/oz a week ago. The US dollar index closed lower at 90.48 from 91.54 a week ago.
The widely followed junior mining index, the VanEck managed GDXJ, closed the week down at $50.25 from $50.37 a week ago. HUI Arca Gold BUGS Index, which follows the major gold miners, closed the week lower at 284.29 from 286.63 last week. The SPDR GLD ETF inventory closed the week down at 1,143.22 tonnes, or 37.72 million ounces, from 1,156.51 tonnes last week.
In other commodities, Silver closed the week higher at $27.32/oz from $27.01/oz a week ago. Copper closed the week at $3.78/lb from $3.62/lb a week ago. Oil went higher as WTI closed up at $59.47 a barrel from $56.85 a barrel a week ago.
The Dow Jones Industrial Average closed up at 31,458 from 31,148 a week ago. Canada’s S&P/TSX Composite Index closed up at 18,460 from 18,135 the previous week. The S&P/TSX Venture Composite Index closed down at 1067.44 from 1022.64 a week ago.
Major Financing Openings:
Major Financing Closings: