The best performing precious metal for the week was silver, but still lower by 2.32%. Scotia views the Ontario Teachers Power Plan deal as positive for New Gold shares—not only is the deal structure financially accretive by their estimates, but it increases exposure to a known asset with a long operating history in a stable jurisdiction. They see this removing a potential overhang on NGD shares and allows the focus to shift to value creation through exploration and optimization.
China’s bullion imports slowed last month as demand in the world’s biggest consumer begins to buckle in the face of record prices. Overseas purchases of physical gold fell to 136 tons in April, a 30% decline from the previous month and the lowest total for the year, according to the latest customs data.
For much of the past half century, U.S. Treasuries have handily outpaced gold as a buy-and-hold investment. Now, bonds’ status as the ultimate haven is facing one of its biggest challenges yet. Investors traditionally flocked to US debt as a super-safe investment paying steady income and backed by the world’s economic powerhouse. This relationship has been shifting lately, as echoed in the bullet point above, with recent trends moving in gold’s favor, according to Bloomberg.
is CEO and chief investment officer of U.S. Global Investors, Inc., a boutique investment advisory firm based in San Antonio that manages domestic and offshore funds specializing in the natural resources and emerging markets sectors. The company’s no-load mutual funds include the Global Resources Fund , the World Precious Minerals Fund and the Gold Shares Fund .
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