Oreninc index back to healthy levels as metals continue to grind higher
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Last Week: 74.80
This week: 101.92
The Oreninc Index increased in the trading week ending May 28th, 2021 to 101.92 from 74.80 a week ago moving back to healthy levels as metals continue to grind higher.
On to the money: the aggregate financings announced increased to $249 million, a 2-week high, with 8 new brokered financings and 4 new bought-deal financing announced. The average offer size increased to $6.7 million, a 2-week high, and the number of financings remained unchanged at 37.
Gold closed the week higher at $1,906/oz from $1,881/oz a week ago. The US dollar index closed higher at 90.09 from 90.02 a week ago.
The widely followed junior mining index, the VanEck managed GDXJ, closed the week higher at $54.71 from $53.87 a week ago. HUI Arca Gold BUGS Index, which follows the major gold miners, closed the week lower at 318.83 from 320.20 last week.The SPDR GLD ETF inventory closed the week lower at 1,043.21 tonnes, or 33.54 million ounces, from 1,044.08 tonnes last week.
In other commodities, Silver closed the week higher at $28.14/oz from $27.48/oz a week ago. Copper closed up at $4.67/lb from $4.48/lb a week ago. Oil went higher as WTI closed higher at $66.32 a barrel from $63.58 a barrel a week ago.
The Dow Jones Industrial Average closed higher at 34,529 from 34,207 a week ago. Canada’s S&P/TSX Composite Index closed up at 19,774 from 19,527 the previous week. The S&P/TSX Venture Composite Index closed higher at 966.39 from 957.20 a week ago.
Major Financing Openings:
Major Financing Closings: