Kitco News - Metals traded lower end of week when jobs data came in stronger than expected, noted mining audiences manager Michael McCrae.
On Saturday McCrae recorded Kitco Roundtable with Kitco correspondent Paul Harris.
On Friday jobs data showed the U.S. economy created a whopping 353,000 jobs last month, significantly beating expectations. Markets see only a 20% chance of a rate cut in March, and they have pared back expectations for a rate cut in May.
Copper spiked mid-week, nearing $4 pound, then settled back where it started at the beginning of the week due to the strong job's number. The industrial metal ended Friday at the $3.80 range. Gold finished the week near the $2,050 ounce level, mostly flat for the week.
In mining news British Columbia's Nisga'a Nation is establishing Canada's largest majority Indigenous-owned public company. The new royalty company includes mining heavy hitter Frank Giustra, who will be strategic advisor to the newly-formed Nations Royalty
