Precious metals strengthened on Friday, lifting London-listed miners Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF) and Fresnillo PLC (LSE:FRES) towards the top of the FTSE 100 gainers.
Endeavour Mining advanced 2.26% to 4,846p, while gold and silver producer Fresnillo gained 1.83% to 3,228p. They were the index’s second- and third-best performers respectively, behind Melrose Industries, which rose 3.07%.
Gold edged 0.17% higher to around US$4,610 an ounce, while silver delivered the stronger move, climbing 2.07% to $70.68. Platinum added 1.95% to US$1,882 and palladium gained 1.24% to $1,373, underlining the breadth of the precious-metals rally. Live metals data
The gains came as investors positioned themselves ahead of Federal Reserve chair Kevin Warsh’s Jackson Hole speech, which could provide fresh signals on the direction of US interest rates.
A balanced or dovish message could support non-yielding assets such as gold, while a more hawkish tone risks pushing bond yields higher and weighing on bullion. Longer-running concerns about US fiscal credibility, currency debasement and geopolitical uncertainty have also sustained demand for precious metals.
Gold futures most recently settled 0.25% higher at $4,609.70 an ounce, while silver rose 2.1% to $69.43.
Else, underlining the breadth of the precious-metals rally.
The gains came as investors positioned themselves ahead of Federal Reserve chair Kevin Warsh’s Jackson Hole speech, which could provide fresh signals on the direction of US interest rates.
A balanced or dovish message could support non-yielding assets such as gold, while a more hawkish tone risks pushing bond yields higher and weighing on bullion. Longer-running concerns about US fiscal credibility, currency debasement and geopolitical uncertainty have also sustained demand for precious metals.
Gold futures most recently settled 0.25% higher at US$4,609.70 an ounce, while silver rose 2.1% to $69.43.
Elsewhere among London’swhere among London’s miners, Anglo American rose 1.04% to 4,287p and miners, Anglo American rose 1.04% to 4,287p and Antofagasta added 1.02% to 4,080p. Antofagasta added 1.02% to 4,080p.
