Oreninc index down as number of financings remains stable
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
Last Week: 107.53 (Updated)
This week: 74.53
The Oreninc Index decreased in the trading week ending March 26th, 2021 to 74.53 from 107.53 a week ago as the number of financings remained stable.
On to the money: the aggregate financings announced decreased to $167 million, a 2-week low, with 6 new brokered financings and 6 new bought-deal financings announced. The average offer size decreased to $4.4 million, a 3-week low, and the number of financings increased to 38.
Gold closed the week lower at $1,732/oz from $1,741/oz a week ago. The US dollar index closed higher at 92.77 from 91.92 a week ago.
The widely followed junior mining index, the VanEck managed GDXJ, closed the week lower at $45.93 from $48.57 a week ago. HUI Arca Gold BUGS Index, which follows the major gold miners, closed the week down at 268.14 from 279.29 last week. The SPDR GLD ETF inventory closed the week down at 1,036.62 tonnes, or 33.82 million ounces, from 1,051.78 tonnes last week.
In other commodities, Silver closed the week lower at $25.14/oz from $26.32/oz a week ago. Copper closed down at $4.06/lb from $4.11/lb a week ago. Oil went higher as WTI closed down at $60.97 a barrel from $61.42 a barrel a week ago.
The Dow Jones Industrial Average closed up at 33,072 from 32,627 a week ago. Canada’s S&P/TSX Composite Index closed up at 18,752 from 18,845 the previous week. The S&P/TSX Venture Composite Index closed lower at 943.29 from 995.80 a week ago.
Major Financing Openings:
Major Financing Closings: