SPOXF - 5 Top Gold News Stories of 2019
The gold price has made significant gains during the second half of 2019, finally breaking through the US$1,500 per ounce level for the first time in six years on August 7.
Overall, the yellow metal has put on an impressive performance in 2019, with many investors seeking gold out as a safe haven from current global events.
It remains to be seen what 2020 will bring for the market. For now, let’s take a look at what happened this past year. Scroll down to see the list of our most popular gold news stories of 2019.
1. Danielle DiMartino Booth: Fed Trying to Engineer Impossible Soft Landing
This is an interview with Danielle DiMartino Booth, expert US Federal Reserve critic and CEO and chief strategist of Quill Intelligence, in which she discussed how significant indicators are pointing to a looming financial crisis in the US and abroad.
Despite the Federal Reserve cutting interest rates three times in four months, DiMartino Booth believes Fed Chair Jerome Powell won’t get the result he is looking for — economic stability. Read the story to learn more on what the US can do to encourage economic growth, how investors can make sense of the markets amid the global uncertainty and what it all means for the gold sector.
2. VIDEO — Rick Rule: I See Gold Moving This Year, Uranium Next Year
Unsurprisingly, investors wanted to hear from Rick Rule of Sprott (TSX:SII,OTC Pink:SPOXF) to get his thoughts on the yellow metal as it became clear that the precious metal was having one of its best performances in years.
Speaking at the Sprott Natural Resource Symposium’s media day back in July, Rule told the Investing News Network (INN) that the factor that has the most important impact on the gold price is confidence (or lack of confidence) in the purchasing power of the US dollar.
Click here to find out what other factors he thinks will continue to support gold and his thoughts on a bull market for the yellow metal.
3. VIDEO — Ross Beaty: Equinox Gold is Not the End
Next on our list of top gold news stories is an interview with Ross Beaty, chairman of Pan American Silver (TSX:PAAS,NASDAQ:PAAS) and Equinox Gold (TSXV:EQX).
Following a talk titled “Profit AND Purpose: How Gold and Silver Mining are Good for Society and Shareholders” at this year’s Sprott Natural Resource Symposium, he chatted with INN about where his career is headed and the direction he expects gold to go (hint: it’s a positive direction).
“Things will probably rise beyond the previous high, which was in 2011 at about US$1,800 an ounce for gold, and about US$48 to US$49 an ounce for silver,” he said.
Head here to read more of Beaty’s thoughts on both the yellow metal and silver.
4. Canadian Miner Kidnapped, Killed in Burkina Faso
While several news stories in 2019 revolved around fatalities at mine sites, this one is particularly harrowing due to the means of death. At the beginning of the year, Kirk Woodman, vice president of Vancouver-based Progress Minerals, was found deceased 100 kilometers away from the Burkina Faso mining site from which he was abducted.
The government of Burkina Faso has called the kidnapping and death of Woodman “cowardly” and pledged to find the abductors, who to this day have not been identified. Read the story to learn more.
5. Rob McEwen: The Dust is Settling on Major Gold Deals — What’s Next?
INN spoke with Rob McEwen, chairman and chief owner of McEwen Mining (TSX:MUX,NYSE:MUX), back in April in order to glean his thoughts on the increase of mergers and acquisitions within the gold space.
Does he think it is positive or negative, and why? Read to find out.
What were your favorite gold news stories in 2019? Let us know in the comments.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Nicole Rashotte, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.