The Globe and Mail reports in its Saturday, March 9, edition that the price of gold is hitting fresh record highs, but the share prices of many gold producers are in the dumps. The Globe's David Berman writes that this underperformance looks like an opportunity. Gold rallied above $2,150 (U.S.) an ounce last week, for a gain of more than 17 per cent from its recent low in October. While commodity producers generally increase production to take advantage of higher commodity prices, gold producers are struggling with mature mines and political opposition to additional output. That is limiting growth and it underscores the argument that we have reached peak gold, pushing some producers to make deals for others. Maison Placements Canada head John Ing says: "Newmont is trying to bump up its reserves, and they made this overpriced acquisition of Newcrest Mining Ltd. Not all acquisitions are accretive, as they say." Newmont's share price has fallen about 30 per cent since announcing the deal in February, 2023. It is not common for the price of bullion and the share prices of gold producers to diverge, which suggests one of two scenarios, either gold prices subside or share prices catch up.