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Barrick Gold Corp
Symbol ABX
Shares Issued 1,777,956,611
Close 2020-05-14 C$ 38.11
Market Cap C$ 67,757,926,445
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Globe says Barrick, Newmont look good with strong gold

2020-05-14 06:57 ET - In the News

Also In the News (C-NGT) Newmont Corp

The Globe and Mail reports in its Thursday edition that sparked by a flight to safety during the COVID-19 crisis, investors are turning to gold as a haven, which has boosted the price of the precious metal and led to a high demand for Canadian gold-equity and gold-bullion exchange-traded funds. The Globe's Gillian Livingston writes that demand has sent the price of gold above $1,700 an ounce, an increase of about 11 per cent so far this year and about 32 per cent over the past 12 months. Canadian gold ETFs saw a surge of interest in April, pulling in $382-million -- the biggest monthly gain in four years, according to National Bank's monthly ETF-flows report. The gold-ETF market in Canada is now worth nearly $3-billion, double from a year ago, says Ian Tam, director of investment research with Morningstar Canada. In the past year, stock prices of the largest gold producers, Barrick Gold and Newmont Mining, are up more than 100 per cent, says James Gauthier, head of product research and oversight with Industrial Alliance Securities Inc. What an investor chooses to do "will be a function of your opinion of the biggest gold producers in the world versus a more diversified approach," Mr. Gauthier says.

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