Investors Begin the Pivot to Commodities Amidst Global Turmoil

NEW YORK, April 17, 2020 /PRNewswire/ — Gold prices were steadily higher in U.S. trading on Thursday, following a corrective pullback in a strong uptrend that was recorded on Wednesday. The most important data published this week is the weekly jobless claims report, which showed that an additional 5.2 million people lost jobs. In total, since the start of the pandemic, the U.S. economy has seen over 20 million American workers lose their jobs. In addition, recent economic data also revealed the extent to which the pandemic has hurt the economy, as U.S. retail sales dropped 8.7% last month, its biggest decay since the government started tracking the data in 1992, whilst manufacturing output fell by the most in 74 years. 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), New Gold Inc. (NYSE: NGD) (TSX: NGD), Kinross Gold Corporation (NYSE: KGC) (TSX: K), Yamana Gold Inc. (NYSE: AUY) (TSX: YRI), NovaGold Resources Inc. (NYSE: NG).