Gold had a rough week and was pushed to the $1750 resistance line. The labor market numbers give investors a good feeling about the overall post-COVID recovery. As long as people feel that their purchasing power is only temporarily shrinking, gold is less in demand as a safe haven. One should not lose sight of the fact that gold is at a very good price level, especially with regard to gold producers. The entire sector has suffered particularly this year and has been pushed down by a real sell-off. Even though the short-term outlook seems to be less good, the long-term fundamentals are betting on a rise in the price of gold and gold-related equities. How did gold-related equities perform this week?
Gold Related Equities Performance
Top 3 Performer:
Equinox Gold Corp. (NYSE: EQX): Equinox Gold Corp. is a Canadian gold producer headquartered in Vancouver, Canada. Equinox operates in North and South America. Equinox has evolved from a single asset producer to a multi-asset producer within two years. Equinox Gold’s vision is to produce one million ounces annually.1
Kirkland Lake Gold Ltd. (NYSE: KL): Kirkland Lake Gold Ltd. is a senior gold producer headquartered in Toronto, Canada, and operating in Canada and Australia. Production target for 2021 is 1,300,000 – 1,400,000 ounces of gold.2
Northern Star Resources Limited (ASX: NST): Northern Star Resources Limited is a global gold company based in Australia. The company operates in Australia and North America.3
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