Business News Asia
Gold December futures fell slightly last week by 0.69% to $1,757.20.
On Friday, gold had briefly jumped higher to $1,782.02, raising hopes for a rising gold price. But only a short time later, the gold price found itself back at the $1,750 mark. The short price jump came after the more than disappointing U.S. labor market data on Friday. The data showed that only just under 194k new jobs were created compared to a forecast of about 500k.
However, the sentiment for gold remains bullish because the fundamentals are intact. Excessive debt and deficits, negative real interest rates, and quantitative easing are all factors that support bullish gold sentiment.
Who wants to invest in gold finds in gold producer stocks a great alternative to participate in gold with leverage. Especially since the gold producers can work extremely profitable with a gold price of $1.750.
The majority of the shares of gold producers were able to close this week in the plus, after the last weeks and months, the shares were more than ignored.
Gold Mining Stock Performance
Top 3 Performer:
Sibanye Stillwater Limited (NYSE: SBSW): Sibanye Stillwater Limited has operations in South Africa, North and South America. The company, headquartered in Johannesburg South Africa, produces gold as well as other precious metals and industrial metals such as copper.1
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.2
AngloGold Ashanti Limited (NYSE: AU): AngloGold Ashanti is the 3rd largest gold producer globally with headquarters in Johannesburg, South Africa. The company produced 3.047 million ounces of gold in 2020.3
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