As of the U.S. presidential inauguration, gold’s outlook has improved even more dramatically.
Biden is about to unleash another massive stimulus package on the market to the delight of gold bulls.
Source: Yahoo Finance
AMEX hit very high-grade gold in three distinct zones including its iconic 100% owned Perron Gold Project located in the mining-friendly jurisdiction of Quebec.
But if you missed out on the mad Amex rally, don’t worry…
Starr Peak could be positioned for an Amex
encore.
It’s sitting adjacent and adjoining Amex’s monster discovery. To add to this flare, a few Amex directors became early investors in Starr Peak as well.
Biden’s Gold Boom: Why the Yellow Metal Could Fly in 2021
Gold mania used to just live on Wall Street. Now it lives on Main Street, and a Biden Administration promises to add multiple fast lanes, paving the way for the next stunning discovery stock to soar.
In August, in the summer of the pandemic, gold broke above the magical $2,000 per ounce zenith and although they backed down a bit, continued to unleash a torrent of forces conspiring to fuel a furious rally.
Gold mining stocks performed even better, outpacing physical gold by a significant margin.
Both the
VanEck Vectors Junior Gold Miners ETF surged over
Value of top 50 mining companies surges $600 billion from covid lows
Despite gold’s price slump, strong copper and iron ore prices lifted MINING.COM’s ranking of the world’s 50 most valuable miners to a new record high of $1.35 trillion at the end of the first quarter.
The MINING.COM Top 50 most valuable mining companies added a combined $50 billion in market capitalization over the three months to end-March, a sharp slowdown compared to previous quarters, as the commodities rally cools and gold suffers its worst first quarter in decades.
Measured from the height of the pandemic in March-April last year, the index has now recovered by an astonishing $636 billion thanks to a boom in spending on green infrastructure – not only in China but across Europe and the US.
Gold Miners Recorded Record High Margins in 2020 April 3, 2021
Gold producers had their most profitable year ever in 2020, based on one metric. The average all-in sustaining cost (AISC) margin, which is the gold price minus the cost to produce the metal, hit a record $828 per ounce, according to Metals Focus. What this means is that for every ounce of gold a mining company produced in 2020, it got to pocket $828 on average. This is comfortably higher than the previous record of $666 set in 2011.
The price of gold hit a record high of $2,070 in 2020, which helped increase revenues. But companies have also been focused on cost discipline. We didn’t see gold miners’ exploration budgets increase significantly in 2020, due in part to the pandemic, which forced mine closures in China, South Africa, Peru, Mexico and elsewhere.
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