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Gold – record level for precious metals and gold mine index!

Gold rises to a record high and drives gold mining stocks up sharply. Of the BANG index has now reached a new all-time high. The index consists of the four precious metal producers Barrick gold, AngloGold Ashanti, Newcrest and Gold road resources.

Gold is generally considered a safe haven. As the number of infections increases, the hope of a rapid economic recovery decreases. Developments in the USA in particular are causing worries on some investors. Added to this are the tensions between the United States and China. The increasing uncertainty is driving investors into safe investments. In many places, however, bonds offer hardly any returns. Precious metals benefit from this. At $ 1,940, the yellow precious metal rose to a new all-time high today.

However, the mining companies also provide impetus. AngloGold Ashanti today raised earnings forecasts for the first half of the year. Gold Road Resources posted a new record for Q2 last week. In the past quarter, 71,000 ounces of gold were produced – with a profit margin of around 50 percent. The Australians are targeting 285,000 ounces for the full year. Newcrest also released good numbers, dropping an average price of $ 1,646 per troy ounce last quarter. Barrick Gold will provide insight into the numbers on August 10th. Given the price of gold, earnings should also have increased.

However, the mine operators are not free from risks. In the recent course development there is hope that the delivery volume and profit will continue to grow at an above-average rate. If the price of the precious metal falls, however, the mining stocks could come under pressure.

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The contribution gold – record level in precious metals and gold mining index! first appeared on onemarket’s blog (HypoVereinsbank – UniCredit Bank AG).

Author: Richard Pfadenhauer

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