20:14:01 EDT Sat 24 Aug 2019
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Barrick Gold Corp
Symbol C : ABX
Shares Issued 1,751,262,450
Close 2019-01-14 C$ 16.32
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Globe/wire say Kinross, rivals see gold gain momentum

2019-01-15 09:10 ET - In the News

See In the News (C-K) Kinross Gold Corp (2)

The Globe and Mail reports in its Tuesday, Jan. 15, edition that the three legs that supported gold's extended rally from just after the 2008 global recession until the peak in 2011 may be making something of a comeback this year. A Reuters dispatch to The Globe reports that this is sparking hopes that gold may finally break out of a fairly narrow five-year range, although it is still far from certain that the dynamics for a sustained rally are entrenched. The 2008-11 rally that saw spot gold almost triple in value to reach a record of $1,920.30 (U.S.) an ounce was built on three pillars, namely strong physical demand from top buyers China and India, robust central bank purchases and appetite for a safe haven investment amid the fallout from the global recession. With all three of these factors working in concert, gold posted solid gains before likely entering a bubble market, with hot money chasing a trend that was fuelled by the usual outlandish forecasts of a never-ending spectacular rally. However, while central bank buying remained solid, the two other legs of gold's rally, namely the largely Western-driven investment buying and Indian and Chinese buying moderated after the September, 2011, record.

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