Why gold stocks are must-adds for your portfolio – nasdaq. com best online saving rates
Declining output from existing mines, geopolitical tensions, concerns over Brexit, China worries and delay in rate hikes is working in favor of gold after years of languishing prices. Saving account interest rate in india There are plenty of reasons to be optimistic about the gold mining industry for both the short and the long term. Savings account interest rates uk Below, we discuss what investors in the gold mining sector can look forward to in the coming months and years:
Over the last decade, combined demand for gold from India and China has risen 71%. Best savings interest rates 2015 Last year, these two markets accounted for 54% of consumer gold demand, up from 33% in 2005. Best fixed deposit rates in south africa India has a strong tradition of investing in gold, mainly in jewelry. Guardian savings bank mortgage rates Demand mostly increases around the wedding
and festive seasons, which begin from mid-to-late August and continue until January. Hdfc bank interest rates on saving account Expenditure on gold can account for almost 30% of the total wedding cost. National savings bank interest rates This gives a boost to local currency demand and raises gold prices .
In China, people view gold, whether in the form of bars, coins or jewelry, as a natural vehicle for savings and diversification. Chase bank savings account interest rate Gold is embedded in China’s culture and the Chinese New Year and weddings are key events for the country’s gold consumption. Best saving account rates In China, although demand might drop from the highs of 2013, growth remains intact. Saving bank interest rates A continuous shift toward higher-margin products has lately been observed in the Chinese jewelry market. Best savings account interest rates Gem-set and 18-carat gold items are increasingly popular, with the latter largely gaining popularity among the younger generation.
The World Gold Council anticipates demand from China to grow at least another 20% by 2017. Best fixed deposit rates in singapore While China’s middle class is expanding, India has a comparatively low level of per capita gold holdings. Best savings account rates The powerful combination of increasing urbanization and strong cultural affinity for gold bodes well for the metal’s demand in both these countries.
China’s central bank also continues to purchase the precious metal on a monthly basis, as it sees value in diversifying in gold. Top saving rates People’s Bank of China (PBOC) now holds a total of 57.18 million ounces of gold. Best online saving rates Currently, China’s gold reserves are ranked fifth in the world, behind the U.S., Germany, Italy and France.
In the second quarter of 2016, demand for gold jewelry in the U.S. Best savings account interest rates today went up 1% year on year – the tenth consecutive quarterly increase. Eaglemark savings bank interest rates Demand in H1 at 48.6 tons was the strongest since 2009. Chase bank savings interest rates today Consistent, albeit moderate economic growth, improving employment levels and growth in consumer confidence are supporting demand.
Vancouver-based Tahoe Resources Inc.’s (TAHO) acquisition of Lake Shore Gold Corp. Savings bank interest rates india will address challenges faced by both companies. Best savings account rates online The transaction added Timmins West and Bell Creek mines in Timmins, Ontario, to Tahoe’s holdings, which include mines in Guatemala and Peru.
The enlarged company is expected to produce 370,000-430,000 ounces of gold in 2016 at total cash costs of $675-$725 per ounce and all-in costs of $950-$1,000 per ounce. Compare saving account rates Last year, Tahoe had bought a smaller rival Rio Alto Mining to expand its presence in Latin America.
Goldcorp Inc. Saving bank interest rates sbi (GG) has acquired Kaminak Gold Corporation. Gibraltar savings bank interest rates Kaminak’s primary asset is the wholly owned Coffee Gold project – a hydrothermal gold deposit located at Yukon. Taranaki savings bank interest rates This project has considerable potential for near-mine discoveries, with mineralization remaining open along strike and at depth.
The Coffee gold deposit currently has total indicated gold mineral resources of 3 million ounces and total inferred gold mineral resources of 2.2 million ounces. Best saving account rates canada The acquisition is in sync with Goldcorp’s strategy of aligning with smaller exploration companies to identify and develop mining districts with large exploration potential that can grow its net asset value per share.
Seabridge Gold, Inc. Best saving account rates uk (SA) acquired SnipGold and its Iskut project which is a gold-silver-copper project with measured and indicated resources of 2.16 million ounces of gold, 13.17 million ounces of silver, and nearly 502.7 million pounds of copper. Best savings account rates credit unions Fortuna Silver Mines Inc. Best savings account rates easy access (FSM) acquired Goldrock Mines and its Lindero gold project in Argentina. American savings bank interest rates The project contains 1.15 million ounces of gold.
The drop in gold prices in recent years had put the gold mining companies’ bottom lines under pressure. Northwest savings bank interest rates The companies were actively pursuing opportunities to optimize their portfolio, including the divestiture of certain non-core or non-productive assets and reduction of debt, maximization of return on capital along with driving value across the portfolio.
Newmont Mining Corp. Trustee savings bank interest rates (NEM) sold Newmont Waihi Gold Limited in New Zealand to OceanaGold Corp. Best saving account rates ireland (OCANF). Best saving account rates australia Over the last two years, Newmont has generated $1.7 billion through non-core asset sales, allowing the company to reduce its debt, invest in profitable production and return capital to its shareholders.
IAMGOLD Corp. Best saving account rates us (IAG) completed the sale of its Niobec mine to a group of companies led by Magris Resources Inc. Best euro savings account rates for cash proceeds of $500 million. Best savings account rates on the high street This sale will increase IAMGOLD’s liquidity position, thereby strengthening its financial position over many of its competitors. Best saving account rates in canada Goldcorp had sold its 26% stake in Tahoe Resources for just under $1 billion in order to focus on cash flow generation.
Barrick Gold Corp. Best joint savings account rates (ABX) is also shedding non-core assets to optimize its portfolio and strengthen its balance sheet. Best jumbo savings account rates The company, in late 2015, completed the sale of a 50% interest in the Zaldivar copper mine in Chile to Antofagasta Plc. Best savings account rates martin lewis and also closed the divestment of its 70% interest in the Spring Valley project and its 100% interest in the Ruby Hill mine to subsidiaries of Waterton Precious Metals Fund II Cayman, LP.
Moreover, the company wrapped up the sale of its 50% interest in the Round Mountain mine and divested the Bald Mountain mine in Nevada to Kinross Gold Corp. Best savings account rates monthly interest (KGC) earlier this year, receiving $610 million in cash for these non-core assets. Best savings account rates natwest Barrick reduced its total debt by 24% in 2015, exceeding its original debt-reduction goal of $3 billion.
Gold has always been viewed as a store of value and a safe-haven asset. Best savings account rates in pa The buying of gold is a hedge against inflation, macroeconomic, geopolitical, systemic and monetary risk. Best regular saving account rates This trend intensifies during periods of economic turmoil and geopolitical tensions. Best savings account rates santander The current economic scenario is rife with all these factors.
Gold’s worldwide acceptance as a store of value sets it apart from other precious metals such as platinum, palladium and silver whose demand stems mainly from their industrial applications. Best savings account rates today Gold is produced primarily for accumulation while the other commodities are produced for consumption.
Moreover, in contrast to other commodities, gold does not perish, tarnish or corrode, nor does it have quality grades. Best savings account rates with monthly interest There has not been any material change in gold’s quality over the years; gold mined thousands of years ago is the same as today. Banks with best saving account interest rates Gold existing above-ground is easily interchanged with newly mined gold. Best 2 year savings account rates This ensures the continuous demand of the metal for years to come.
Gold is having a good ride this year on mounting global economic fears. Best savings account rates for over 60 This accelerated flight to safety makes investment in gold a prudent option at the moment.
Estimates for Silver Standard Resources Inc. Best savings account rates for lump sum (SSRI) have moved up 37% over the past 60 days. Best 5 year savings account rates The Zacks Consensus Estimate for 2016 is at 82 cents, a radical improvement from the loss of 10 cents per share in the prior year. Airdrie savings bank interest rates The stock sports a Zacks Rank #1 (Strong Buy). Best saving bank interest rates You can see the complete list of today’s Zacks #1 Rank stocks here.
Caledonia Mining Corporation Plc (CALVF) carries a Zacks Rank #2 and has witnessed upward movement in its earnings estimates over the past 60 days. Best savings bank interest rates in australia The Zacks Consensus Estimate for 2016 is at 27 cents, a 238% improvement from the prior year.
Gold Fields Ltd. Dime savings bank interest rates (GFI) carries a Zacks Rank #2 and its estimates for 2016 have moved up around 14% over the last 30 days. Guardian savings bank interest rates The stock has an expected earnings growth of a whopping 600% for the current year.
New Gold, Inc. Bank saving interest rates in pakistan (NGD) also flaunts a Zacks Rank #2 and has expected earnings growth of around 433.33% for the current year. National savings bank interest rates sri lanka The Zacks Consensus Estimate for 2016 has moved up 28% over the last 30 days.
Check out our latest Gold mining outlook for more on the current state of affairs in this market from an earnings perspective, and how the trend is shaping up for this sector going forward.
Beyond this Industry Outlook, would you like to see Zacks’ best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Bank saving interest rate malaysia Click to see them now>>