Investors Await a Potential Rebound in Gold Production
FinancialBuzz.com News Commentary
NEW YORK, March 5, 2021 /PRNewswire/ -- Markets tumbled Thursday after U.S. Federal Reserve Chair Jerome Powell reiterated a previous narrative to keep credit flowing until Americans are back to work. Some see this as a direct rebuttal of investors who have openly doubted that the Fed can stick to that plan after the pandemic. According to a report by Reuters, with vaccines rolling out and the government fiscal taps open, "there is good reason to think we will make more progress soon" toward the Fed's goals of maximum employment and 2% sustained inflation, Powell told a Wall Street Journal forum. Yet, a major factor to consider is the anticipated gold miners' production rebound in 2021. Kitco reports that the top 20 gold miners are projected to lose about 5% of their total 2020 gold output primarily due to the pandemic and related restrictions. However, in 2021, gold production is likely to rebound. "Based upon mid-point outlook projections, production will be ~6% more than a revised," post guidance for 2020. Exploits Discovery Corp. (CSE: NFLD) (OTC: RNRRF), IAMGOLD Corporation (NYSE: IAG), Gold Resource Corporation (NYSE: GORO), B2Gold Corp. (NYSE: BTG), Kinross Gold Corporation (NYSE: KGC)