Although it retreated below that level this week, the yellow metal remains historically high.
Of course, gold stocks continue to underperform compared to the metal itself, partially due to a lack of investor interest. And this week brought news that may further dampen participation in the sector, at least in Canada.
Various mining industry groups have weighed in on the change, explaining how it’s likely to create headwinds in Canada’s resource sector, especially for exploration-stage companies working to advance projects.
The Canadian government has said only 0.13 percent of Canadians are expected to pay more in personal income tax on their capital gains. Conservative and Bloc Québécois leaders have already said they won’t vote in favor of the budget; it remains to be seen whether the NDP will side with Prime Minister Justin Trudeau’s Liberals..
Warrants are still out for a number of people connected to the incident, and most of the stolen goods haven’t been found.
According to the organization, overall demand exceeded supply last year, creating a deficit of 184.3 million ounces. Last year’s deficit was the third in a row for silver, and the Silver Institute is calling for a fourth in 2024 — it’s projecting a shortfall of 215.3 million ounces, which would be the second largest in over 20 years.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
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