Economic Upheaval Gives Rise to Gold Prices

NEW YORK, March 31, 2020 /PRNewswire/ — Gold for June delivery GCM20, the most-active contract on the Commodity Exchange (Comex), fell by USD 17 or approximately 1% on Monday, to trade at about USD 1,636 an ounce. Yet, prices for the April contract, which is still among the more active, had increased by 9.5% last week for the biggest weekly jump since September 2008, according to FactSet data. Overall, the projections for gold seem to be positive. With record deficit spending and interest rates at zero, the economic environment is appropriate for the Federal Reserve to keep interest rates below the level of inflation for the near future until the markets normalize after the pandemic. And this is the right environment for gold bullion, as gold is often considered a safe-haven asset amid times of political or economic uncertainties. Blue Lagoon Resources Inc. (OTC: BLAGF) (CSE: BLLG), K92 Mining Inc. (OTC: KNTNF) (TSX-V: KNT), New Gold Inc. (NYSE: NGD) (TSX: NGD), Ivanhoe Mines Ltd. (OTC: IVPAF) (TSX: IVN), Yamana Gold Inc. (NYSE: AUY) (TSX: YRI)