Gold markets are starting to show signs of improvement following the failed insurrection attempt by the Wagner Group, a Russian paramilitary organization led by mercenaries and a de facto private army of Yevgeny Prigozhin, a Russian businessman.
A combination of geopolitical tensions, which have since calmed, and the Federal Reserve battling to bring core inflation down to their 2% mark, investors and traders are currently assessing the potential safe haven of the yellow metal, as prices remain moderate, but still below their earlier peaks of the year.
Despite major headwinds echoed throughout the global economy, Gold Fields has significantly increased its portfolio over the last 12 months, acquiring Yamana Gold, a Canadian-based gold mining company for $6.7 billion back in May 2022. Stock performance has been difficult, with prices sliding 22% during the early weeks of May, before trending upward again. The start of June presented the same difficulties, with TORXF down by 11%, but have since started gaining momentum again.
Earlier in June this year, the company announced it has entered an agreement with ACG Acquisition Company Limited, which would allow them to acquire new royalties on both the Serrote and Santa Rita mines in Brazil. On the stock market, things have been shaken up in recent months, and while AGI shares have seen incremental price declines, recent activity in the global gold market has helped AGI prices steadily build up an improved performance.
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Source: KitcoNewsNOW - 🏆 13. / 78 Read more »
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Source: KitcoNewsNOW - 🏆 13. / 78 Read more »