08:55:47 EDT Fri 29 Mar 2024
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Barrick Gold Corp
Symbol ABX
Shares Issued 1,778,068,071
Close 2020-07-27 C$ 39.98
Market Cap C$ 71,087,161,479
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FP/wire say Barrick, rivals hear gold marching higher

2020-07-28 08:47 ET - In the News

Also In the News (C-FNV) Franco-Nevada Corp
Also In the News (C-G) Goldcorp Inc (2)
Also In the News (C-K) Kinross Gold Corp (2)
Also In the News (C-NGT) Newmont Corp

The Financial Post reports in its Tuesday edition that gold's unrelenting march higher shows no signs of slowing after a plunge in the dollar swept prices past the previous high set in 2011 and put the metal on track for even bigger gains. A Bloomberg dispatch to the Post reports that bullion's surge came as a gauge of the U.S. currency sank to the lowest in more than a year, the latest in a long line of bullish factors -- including negative real rates in the U.S. and bets the Federal Reserve will keep policy accommodative when it meets this week -- that are pushing prices ever higher. With the world facing an extended period of unprecedented economic and political turmoil, gold's now got $2,000 (U.S.) in its sights. Some in the market suggest the haven could rise even beyond that. Nascent signs of gold's record-breaking ascent began to show in mid-2019, when the Fed signalled a readiness to cut interest rates as uncertainty clouded its outlook. The rally gathered pace in early 2020 as geopolitical tensions rose and the COVID-19 outbreak hurt growth worldwide, pushing governments and central banks to unleash vast amounts of stimulus, and sending real rates slumping further into negative territory.

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