Oreninc index remains steady as average offer size increases
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Last Week: 65.45
This week: 61.43
The Oreninc Index decreased by only 4 points in the trading week ending April 16th, 2021 to 61.43 from 65.45 a week ago as the average offer size saw a modest increase.
On to the money: the aggregate financings announced increased to $134.7 million, a 5-week high, with 5 new brokered financings and 1 new bought-deal financings announced. The average offer size increased to $5.2 million, a 2-week high, and the number of financings increased to 26.
Gold closed the week higher at $1,779/oz from $1,743/oz a week ago. The US dollar index closed lower at 91.56 from 92.18 a week ago.
The widely followed junior mining index, the VanEck managed GDXJ, closed the week higher at $50.32 from $48.76 a week ago. HUI Arca Gold BUGS Index, which follows the major gold miners, closed the week higher at 292.05 from 283.08 last week.The SPDR GLD ETF inventory closed the week down at 1,019.66 tonnes, or 32.78 million ounces, from 1,026.07 tonnes last week.
In other commodities, Silver closed the week higher at $26.10/oz from $25.32/oz a week ago. Copper closed up at $4.16/lb from $4.04/lb a week ago. Oil went higher as WTI closed up at $63.13 a barrel from $59.32 a barrel a week ago.
The Dow Jones Industrial Average closed up at 34,200 from 33,800 a week ago. Canada’s S&P/TSX Composite Index closed up at 19,351 from 19,288 the previous week. The S&P/TSX Venture Composite Index closed lower at 944.46 from 959.37 a week ago.
Major Financing Openings:
Major Financing Closings: