goldstocks
The gold price has pulled back from the record-setting levels seen earlier this year, but Jeff Clark, editor of Paydirt Prospector, believes the yellow metal will continue moving upward in 2024. "The next target or level is US$2,500 (per ounce), and I do think we'll get to that this year because history tells me we will. We've had a 38 percent rise in the gold price in this upcycle ... but the average upcycle is much higher, and if this upcycle were to end now it would be the lowest in history," he told the Investing News Network in an interview. "I'm forced to believe because of history that ...
Investing News Network
Rob McEwen of McEwen Mining (TSX:MUX,NYSE:MUX) and Michael Meding of McEwen Copper sat down to speak about the outlook for gold and copper, as well as news from their respective companies. Looking first at gold, McEwen said it has space to move higher in 2024, and pointed to eye-watering predictions from a number of market participants. Citi is calling for US$3,000 per ounce before the end of 2024, while Bloomberg Intelligence expects US$7,000 by 2025. Meanwhile, Pierre Lassonde has given a US$19,000 to US$20,000 target. "The whole sector has been underinvested for quite awhile, and I think it...
Investing News Network
Eskay Mining (TSXV:ESK,OTCQX:ESKYF) announced plans to combine with P2 Gold (TSXV:PGLD,OTCQB:PGLDF) on Tuesday (June 4) in a move it says will create a new entity focused on gold and copper exploration. The non-binding letter of intent entered by the two companies outlines a deal through which Eskay will acquire all outstanding P2 Gold shares at an exchange ratio of 0.2778 Eskay shares for each P2 share. Eskay shareholders will hold 80 percent of the merged company, while P2 shareholders will own 20 percent. Once the transaction is complete, the company will have assets in BC's Golden Triangle...
Investing News Network
The New York Stock Exchange (NYSE) swiftly addressed a technical issue on Monday (June 3) that caused incorrect displays of share price information for a variety of companies listed on the exchange. The glitch, which the exchange attributed to a problem with limit up-limit down (LULD) bands, caused the Class A shares of Warren Buffett's Berkshire Hathaway (NYSE:BRK.A) to plummet nearly 100 percent during morning trading. Major miner Barrick Gold (TSX:ABX,NYSE:GOLD) was also affected, as was NuScale Power (NYSE:SMR). GameStop (NYSE:GME) was impacted too, although the NYSE issue wasn't the only ...
Investing News Network
Speaking to the Investing News Network, Chris Ritchie, president of SilverCrest Metals (TSX:SIL,NYSEAMERICAN:SILV), shared his thoughts on how inflation continues to impact gold and silver miners, and explained why his company has chosen to hold precious metals on its balance sheet in this environment. SilverCrest's Las Chispas operation in Mexico went into production about two years ago, and Ritchie said that after paying back all of its debt in seven months the company had to decide what to do with the cash it had coming in. "Some of the knee-jerk responses were, 'Let's go build a new mine.'...
Investing News Network
The gold price has reached historic highs in 2024, rising above US$2,400 per ounce. For Australian investors, the price of the yellow metal has surged above the AU$3,700 mark in just the past few months. These gains have come as investors anticipate interest rate cuts, and against a backdrop of continued geopolitical turmoil in Ukraine and the Middle East. Gold has also been buoyed by central bank and Chinese buying. For many investors, gold is a tool for diversification. The precious metal is known for its ability to act as a safe haven and hence operates as a protective option when building ...
Investing News Network
The S&P/TSX Venture Composite Index (INDEXTSI:JX) lost 7.22 points last week to close at 607.95. Statistics Canada released consumer price index (CPI) data this past Tuesday (May 21). In the report, the agency indicates that CPI rose 2.7 percent in April on a year-on-year basis, dropping from a 2.9 percent year-on-year uptick in March. Inflation has now declined for the fourth month in a row, improving odds for a June rate cut as CPI inches closer to the Bank of Canada’s 2 percent target. The Canadian dollar lost a quarter percent on the news to close the day at US$1.37. South of the border, t...
Investing News Network
Private investor Don Hansen has honed his resource sector investment approach for more than 20 years, and he shared his latest research in a conversation with the Investing News Network. He presented his expanded Lassonde Curve and discussed four gold stocks he believes have the potential to bring investors strong returns. Those are K92 Mining (TSX:KNT,OTCQX:KNTNF), Aris Mining (TSX:ARIS,NYSEAMERICAN:ARMN), Minera Alamos (TSXV:MAI,OTCQX:MAIFF) and Rio2 (TSXV:RIO,OTCQX:RIOFF). Hansen also explained why he thinks now is the right time to establish or build on precious metals positions. "What I'm...
Investing News Network
John Feneck, partner and portfolio manager at Feneck Consulting, shared his thoughts on gold, silver, copper and uranium, outlining his outlook for these commodities and stocks he's currently watching. Starting with gold, he said he thinks it's proven itself as a safe-haven asset, with more "smart money" now getting involved. At the same time, he sees gold-mining companies starting to put on positive performances. "We're off to the races in gold producers in terms of doing well at the earnings level, and that gets the attention of big money ... (and) that's what's needed to generate more inter...
Investing News Network
Tavi Costa, partner and portfolio manager at Crescat Capital, shared his thoughts on gold's recent price activity, outlining why he thinks the yellow metal will lead other commodities higher. He told the Investing News Network that silver and copper are set to benefit from its rise. "To me gold is sort of the first thing to really move, and the first box to check in terms of a secular market. But where you're really going to likely get those big returns is going to be on things that tend to move with gold. And as we see gold move, usually you tend to see other metals really leading the way to ...
Investing News Network
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