Even if gold and silver suffered a clear setback – the trend is still strong. The $ 2,000 in gold, a few months ago, is now within reach. Even more: in December Future, the currently most traded contract, the brand was even reached for a short time in the Asian trade. Silver, which was just over $ 12 in March, is now heading towards $ 30.
Gold broke straight up
“The precious metals burn off fireworks,” says Markus Bußler. The expected reset has failed to materialize, and gold and silver have broken out straight up. Silver, in particular, is currently increasingly becoming the driving force in the sector. Mining stocks have also risen significantly in recent weeks. Only some big producers like Barrick Gold or Newmont are lagging behind the movement. The current number season shows: Many companies are developing into cash machines in view of the gold price. “The second quarter was certainly an exceptional quarter due to some mine closures due to the corona pandemic,” says Markus Bußler.
It wasn’t so easy for everyone
Some corporations did not return to normal until mid-July. In some countries, such as Peru, there are still problems. Nevertheless, the numbers turned out well against this background. Agnico Eagle, Newmont, Kinross and also Kirkland Lake Gold exceeded the forecasts with their numbers. However, the quarter is leaving its mark. Both Agnico and Newmont cost over $ 1,000.