The same catalysts that pushed it to about $2,089.20 in August 2020 are still in place. For one, there’s still a considerable amount of tension with China. Two, the House just passed the $1.9 trillion stimulus bill, which could lead to higher inflationary risk. Three, central banks seem likely to remain increasingly dovish with this current health scare. So it comes as no surprise that firms such as Citi appear to have a $2,500 price target. All of which could be positive catalysts for gold prices.
In addition, JP Morgan analyst Tyler Langton argues there’s support for current gold prices, as noted by Tip Ranks. He believes, “there is support for current prices, with gold and gold mines being seen as a hedge against ‘macro uncertainty.’ He believes that the main sources of support will be found in ‘real interest rates remaining lower for longer and CV-19 related stimulus measures continuing to expand central bank balance sheets.’”
Those are positive catalysts for companies such as ThreeD Capital Inc. (CSE:IDK)(OTC:IDKFF), K92 Mining Inc. (TSXV:KNT)(OTC:KNTNF), Spanish Mountain Gold Ltd. (TSXV:SPA)(OTC:SPAZF), and Benchmark Metals Inc. (TSXV:BNCH)(OTC:BNCHF).
Or, look at West Mining Corp. (CSE:WEST)(OTC:WESMF)
West Mining is an advanced stage exploration company focused on developing a district-scale gold project in one of the world’s premier mining jurisdictions. The company’s Kena Daylight Gold, Silver and Copper Project is located 10 KM south of Nelson, British Columbia in the 2nd largest gold district in British Columbia “The Golden Arc.”
The company just announced that it welcomed Sheldon Inwentash to the advisory board of West Mining Corp. Mr. Inwentash has more than 30 years of experience in the investment industry, and a deep understanding of progressive investment and financial management strategies, having been successfully investing for most of his career.
Sheldon previously held the position of Chairman for Mega Uranium Ltd., Executive Chairman of Northern Sphere Mining Corp., Partner at KBL Capital Corp., Principal at Enghouse Systems Ltd., Chairman & Chief Executive Officer of Pinetree Capital Ltd. (he founded the company in 2009), Chairman & Chief Executive Officer of Pinetree Capital Ltd. (Investment Management) (he founded the company in 2010), Chairman for Titan Uranium, Inc., Chief Executive Officer & Director at Mega Precious Metals, Inc., Principal at Aurelian Resources, Inc. and Principal at Southern Star Resources, Inc.
Nicholas Houghton, President & CEO commented: “We are very pleased to welcome Sheldon to our advisory board team. He has a wealth of mining experience in all aspects including finance, exploration and production. His wide range of expertise will be helpful in developing our projects and guiding West as a company.”
Mr. Inwentash co-founded Visible Genetics, the first commercial pharmacogenomics company, in 1994 and exited in 2001 to Bayer. Through two decades leading Pinetree Capital, Mr. Inwentash created significant shareholder value through early investments in Queenston Mining (acquired by Osisko Mining Corp. for $550-million), Aurelian Resources (acquired by Kinross for $1.2-billion) and Gold Eagle Mines (acquired by Goldcorp for $1.5- billion) to name a few.
Mr. Inwentash is also the founder, chairman and CEO of ThreeD Capital Inc. (CSE: IDK) an investment issuer focused on investing in six main verticals. Though they are primarily early-stage companies, and therefore may have significant risk but at the same time, they have the ability to grow quickly and outperform.
Mr. Inwentash received an undergraduate degree from the University of Toronto and is a chartered accountant. In 2007, he was an Ontario finalist for the Ernst & Young entrepreneur of the year award. In 2012, Sheldon received an honorary degree, doctor of laws (LL.D) from the University of Toronto for his valuable leadership as an entrepreneur, his philanthropy, and inspirational commitment to making a difference in the lives of children, youth and their families. Mr. Inwentash and ThreeD Capital are both shareholders in West Mining Corp.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for West Mining Corp. by a third party. We own ZERO shares of West Mining Corp. Please click here for full disclaimer.
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
