Editor’s Note: Get caught up in minutes with our speedy summary of today’s must-read news stories and expert opinions that moved the precious metals and financial markets. Sign up here! (Kitco News) – The gold market continues to struggle below $1,900 an ounce, and although time is running out for the market to hit $2,000 an ounce by year-end, one mining executive said that it is more important to look at the long-term trend rather than any short-term target.
In a telephone interview with Kitco News, Randy Smallwood, president and CEO of Wheaton Precious Metals, said it is difficult for him to see a scenario where gold prices go materially lower.
Although investor optimism has picked up following positive news regarding potential vaccines for the COVID0-19 virus, Smallwood said more stimulus is needed to undo the damage that has already been inflicted on the global economy.
"We are looking at a tough […]
November 20, 2020 (updated November 20, 2020) Published by StockMan