06:06:33 EDT Thu 28 Mar 2024
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Barrick Gold Corp
Symbol ABX
Shares Issued 1,166,902,835
Close 2018-07-10 C$ 17.58
Market Cap C$ 20,514,151,839
Recent Sedar Documents

Post says Goldcorp, others have yet to see panic buying

2018-07-11 07:10 ET - In the News

See In the News (C-G) Goldcorp Inc (2)

The Financial Post reports in its Tuesday edition that with the S&P/TSX composite index up slightly in 2018, many investors are considering safe havens if the worst happens. The Post's Jonathan Ratner writes that gold and the U.S. dollar are both frequently considered safe-haven assets, making them an attractive place to park during uncertain times, and more so if a trade war wreaks havoc on financial markets. However, the price of gold is usually inversely linked to strength in the greenback, which means they do not always respond in the same fashion. So far, gold has yet to catch the eye of investors, continuing a decline that began in March, 2018, when the dollar started to gain momentum. "The only thing that is driving gold at the moment is the dollar," said Georgette Boele, commodity strategist at ABN AMRO in Amsterdam. Most analysts predict that the greenback will outperform against other currencies in a trade war, something that could spell further trouble for gold. The Post figures that there are, however, periods when gold has had a positive relationship with the U.S. dollar, and the current level of political uncertainty and lofty valuations for U.S. equities certainly bode well for gold.

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