Gold shines, stocks fade

On Tuesday, the spot price of gold surged to a record high of $2,141. As the commodity shone, American stocks and Bitcoin faded on a downbeat day. In Canada, the TSX held its own, giving up five points as sectors were mixed. Energy was the only sector that showed true muscle, while tech and real estate lagged the most. It was fitting that the most dramatic moves came from minerals as the PDAC conference, the biggest minerals convention in Canada, continued in Toronto.

Torex Gold jumped 6.61%, First Quantum Minerals rose 1.83%, Lithium Americas closed -8.56% and Kinross Gold -2.75%. Elsewhere, Topaz Energy rallied 5.85%. WTI declined another 0.7% to $78.20.

The session was worse on Wall Street where tech led those markets down. The Nasdaq closed -1.65% while the Dow and S&P shed more than 1%. Notable names were Tesla at -3.93%, Intel -5.3% and Apple -2.84% after news of slumping iPhone sales in China. Albemarle announced a public offering and its shares tanked 17.87%. A bright spot was Target which reported its quarter and shares jumped over 12%. The U.S. 10-year yield hovered around 4.139% as Bitcoin slid nearly 7% to $63,700.

🥇 Torex Gold Resources (TXG-T) +6.61%

⛏ First Quantum Minerals (FM-T) +1.83%

⛓ Lithium Americas Corp (LAC-T) -8.56%

🥇 Kinross Gold (K-T) -2.75%

🛢 Topaz Energy (TPZ-T) +5.85%

🚗 Tesla Inc (TSLA-Q) -3.93%

💾 Intel (INTC-Q) -5.3%

🍎 Apple Inc (AAPL-Q) -2.84%

⛏ Albemarle Corp (ALB-N) -17.87%

🛍 Target Corp (TGT-N) +12%

🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -7%