Francis will install the first cardinal of Brazil's Amazon region this month in a sign of his concern for the rainforest and its indigenous inhabitants.
Prices could turn higher from later this year as the electronics and photovoltaics sectors support industrial consumption, HSBC Securities' chief precious metals analyst said.
The mysterious hole of 36.5 meters in diameter that emerged in late July led the mining regulator to suspend operations of a nearby mine owned by Canada's Lundin in the northern district of Candelaria.
The miner reported its operating and financial results for the second quarter, posting a loss of $77.4 million after reporting a profit in the same period a year earlier.