Copper Fox Metals Inc
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Materials : Metals & Mining | Small Cap Blend
Based in Canada
Company profile

Copper Fox Metals Inc. is a development-stage company. The Company operates as an exploration and development resource company. It is focused on the exploration and development of copper projects in North America. The Company primary assets are its interest in the Schaft Creek Joint Venture with Teck Resources Limited (Teck) on the Schaft Creek copper-gold-molybdenum-silver project located in northwestern British Columbia and the Van Dyke oxide copper deposit located in Globe-Miami Mining District in Arizona. The Company's Sombrero Butte project is located in the Laramide age porphyry copper belt in Arizona. The Company's Mineral Mountain project occurs along the Jemez structural trend that hosts the Miami-Globe, Resolution, Florence and Casa Grande copper deposits/districts. The Mineral Mountain property is located between the Florence copper deposit and the Resolution copper deposit. It also holds interest in Eaglehead Project, which is a copper-gold-molybdenum-silver property.

Closing Price
$0.3117
Day's Change
-0.015 (-4.61%)
Bid
--
Ask
--
B/A Size
--
Day's High
0.338
Day's Low
0.2989
Volume
(Light)
Volume:
72,024

10-day average volume:
140,154
72,024

UPDATE: Gold prices end higher ahead of U.S. Senate elections in Georgia

2:21 pm ET January 5, 2021 (MarketWatch)
Print

By Myra P. Saefong and Mark DeCambre

Gold prices finished Tuesday trade sharply higher, with uncertainty surrounding the U.S. Senate runoff elections in Georgia offering support for the haven metal.

A climb in the U.S. ISM manufacturing index to its highest since August 2018, in data published Tuesday, relieved fears about the economic recovery from the pandemic, and along with strength in the domestic stock market, produced some headwinds for gold earlier in the session.

However, gold found support from uncertainty about Tuesday's "runoff elections in Georgia more than anywhere else," Jeff Wright, executive vice president of GoldMining Inc., told MarketWatch.

If Democrats win both seats in the Georgia runoff contests, that could make it easier for President-elect Joe Biden's administration to pass legislation that could influence trading in stocks, including the repeal of corporate tax cuts put in place under the Trump administration.

The fear is Democrats could "control both houses of Congress," and "push through radical tax policy, run away spending, and alter any semblance of divided government," Wright wrote.

Read: Why you may have to wait past Tuesday for the Georgia election results (https://www.marketwatch.com/story/why-you-may-have-to-wait-past-tuesday-for-the-georgia-election-results-11609789100)

The result of the Senate runoff elections in Georgia will have "massive implications for the country over the coming years," wrote Craig Erlam, senior market analyst at Oanda, in a daily research note.

"The Republicans only need one seat to retain their majority with a double Democrat victory giving them a de facto majority, given the casting vote of the vice President [Kamala Harris]," he said.

In Tuesday dealings, gold for February delivery rose $7.80, or 0.4%, to settle at $1,954.40 an ounce, following a 2.7% gain on Monday that took bullion to its highest level since early November, according to FactSet data.

Silver futures for March delivery SIH1 (#phrase-company?ref=COMPANY%7CSIH1;onlineSignificance=prominent) SI00 (#phrase-company?ref=COMPANY%7CSI00;onlineSignificance=prominent), meanwhile, rose 27.6 cents, or 1%, to settle at $27.640, following a 3.6% gain for gold's sister metal to start 2021.

Wright said he's "looking for gold to return to $2,000 in the coming weeks after the Biden administration takes over. "

Meanwhile, renewed implementation of lockdown measures in the U.K, EU and U.S. in particular to limit the spread of the coronavirus caused some consternation on Wall Street and, perhaps, bolstered appetite for bullion.

See: January will be worst month for U.S. pandemic so far with postholiday travel cases seen surging (https://www.marketwatch.com/story/january-will-be-worst-month-for-us-pandemic-so-far-as-post-holiday-travel-cases-seen-surging-2021-01-05?mod=mw_latestnews)

The highly transmissible strain of COVID-19 (https://www.wsj.com/articles/highly-contagious-covid-19-strain-has-been-found-in-new-york-state-gov-cuomo-says-11609795489?mod=article_inline)recently discovered in the U.K. has also been found in New York, the state's governor said Monday, and London announced a stricter national lockdown, even as vaccines are being rolled out in many parts of the world.

But U.S. data released Tuesday morning revealed that the ISM manufacturing index climbed (https://www.marketwatch.com/story/u-s-manufacturers-grow-faster-in-december-despite-coronavirus-surge-ism-finds-11609859979?mod=mw_latestnews) to 60.7% in December, from 57.5%, to reach its highest level since August 2018, dulling appetite for gold and prompting some losses in earlier dealings. U.S. benchmark stock indexes also traded broadly higher (https://www.marketwatch.com/story/dow-futures-slide-lower-tuesday-morning-after-stocks-first-decline-to-start-a-year-since-2016-11609850205), a day after their first losses to open a new year since 2016.

A soft start for U.S. dollar, after its steepest annual slide since 2017 (https://www.marketwatch.com/story/dollar-suffers-first-annual-drop-since-2017-11609456986), also was helping to buttress gold and silver prices. The ICE U.S. Dollar Index was off 0.5% on Tuesday at around 89.466, hanging around its lowest level since the spring of 2018. A weaker dollar can make gold more attractive to overseas buyers.

Rounding out metals action on Comex, March copper tacked on 8.5 cents, or 2.4%, to end at $3.6395 a pound.

April platinum added $48.10, or 4.5%, to settle at $1,119.60 an ounce and March palladium finished at $2,493.40 an ounce, up $102.20, or 4.3%.

-Myra P. Saefong; 415-439-6400; AskNewswires@dowjones.com

	

(END) Dow Jones Newswires

January 05, 2021 14:21 ET (19:21 GMT)

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