Copper’s fall of nearly 3% was a pointer to the extent of the selling, while gold fell below US$1320 per ounce – after having been at nearly $1360/oz just two weeks ago.
With metals now facing the likely reality of a higher US interest rate environment, investors in mining equities were cautious.
In London, Glencore and Anglo American were effectively unchanged, while Rio Tinto’s rise of about 1% came after its strong earnings result and record dividend payout – with BHP’s gain of nearly 0.7% a likely tailwind scenario.
In Toronto the gold patch showed resilience in only falling 0.57%, with Barrick Gold down 0.24%.
However, the copper miners and diversified producers were...