Oreninc index up with precious metals rising
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Last Week: 55.07
This week: 65.45
The Oreninc Index increased in the trading week ending April 9th, 2021 to 65.45 from 55.07 a week ago with gold & silver on the rise.
On to the money: the aggregate financings announced decreased to $108 million, a 5-week low, with 6 new brokered financings and 4 new bought-deal financings announced. The average offer size decreased to $4.7 million, a 2-week high, and the number of financings decreased to 20.
Gold closed the week higher at $1,743/oz from $1,726/oz a week ago. The US dollar index closed lower at 92.18 from 92.93 a week ago.
The widely followed junior mining index, the VanEck managed GDXJ, closed the week higher at $48.65 from $46.72 a week ago. HUI Arca Gold BUGS Index, which follows the major gold miners, closed the week higher at 283.08 from 276.39 last week. The SPDR GLD ETF inventory closed the week down at 1,026.07 tonnes, or 32.98 million ounces, from 1,032.83 tonnes last week.
In other commodities, Silver closed the week higher at $25.32/oz from $24.94/oz a week ago. Copper closed up at $4.04/lb from $3.99/lb a week ago. Oil went higher as WTI closed down at $59.32 a barrel from $61.45 a barrel a week ago.
The Dow Jones Industrial Average closed up at 33,800 from 33,152 a week ago. Canada’s S&P/TSX Composite Index closed up at 19,288 from 18,990 the previous week. The S&P/TSX Venture Composite Index closed lower at 959.37 from 960.84 a week ago.
Major Financing Openings:
Major Financing Closings: