Metals Producers Gain Despite Pullback in Gold, Silver, and Copper Futures

While gold, silver, and copper futures experienced a morning pullback on November 3, 2026, several individual metals producers traded higher following strong quarterly results or project updates. Companies including Ero Copper Corp., Nexa Resources, Constellium, Algoma Steel, and New Found Gold bucked the broader trend of declining commodity prices and falling miner ETFs like GDX and COPX. Ero Copper reported record third-quarter 2026 results, highlighted by a 6% sequential increase in copper production and a significant reduction in net debt. Meanwhile, the World Gold Council reported that central bank gold demand rose 6% year-over-year to 675 tonnes for the year to date, even as market volatility persists due to Federal Reserve interest rate policies and U.S. dollar fluctuations.

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