Favorable Market Conditions for Gold Pique Investor Interest


NEW YORK, Sept. 2, 2021 /PRNewswire/ — The gold market held steady at around USD 1,815 an ounce on Wednesday. In an interview with Kitco News, Robert Minter, Director of Investment Strategy at Aberdeen Standard Investments, said that it will soon be clear that the ongoing pandemic and the growing threat of the Delta Variant will continue to weigh on the U.S. labor market, which is a critical element to the Federal Reserve’s plan to reduce its monthly bond purchases. “There is this belief that come September, magically, 11 million people are supposed to find 10 million jobs and go back to work,” he said. “I just don’t see that happening COVID is not nearly over yet. The recovery right now is in retrograde, it’s not fatal, but it’s enough to keep pressure on the Fed to maintain its current monetary policies.” TD Holdings, Inc. (NASDAQ: GLG), Kinross Gold Corporation (NYSE: KGC), Sandstorm Gold Ltd. (NYSE: SAND), B2Gold Corp. (NYSE: BTG), New Gold Inc. (NYSE: NGD)

Going forward, inflation is expected to play a major role in deciding the future of gold. According to the International Monetary Fund (IMF) 2020 annual report, USD 12 Trillion has been pumped into global financial markets as governments and central banks worldwide have tried to stabilize the economy that was devastated by the pandemic. Investors are now speculating that the fallout will be seen in higher inflation, especially when the economic activity picks up in the second half of the year. When prices rise and the value of the dollar falls, gold is often seen as a hedge against inflation.

TD Holdings, Inc. (NASDAQ: GLG) announced yesterday breaking news that the Company has entered into a strategic cooperation agreement (the “Agreement”) on August 31, 2021 with Jinyibao International Technology Company Limited (“JIT”), a technology company engaged in global gold spot trading business. The Agreement shall be in effect until August 31, 2023.

Pursuant to the Agreement, JIT plans to reach its goal of US$3 billion in gross merchandise volume (“GMV”) from global gold spot trading within three years and its target markets include but are not limited to China, India, Southeast Asia, the Middle East, Europe, and North America. The Company agrees to tailor a supply chain service plan for JIT and provide supporting services along the supply chain according to JIT’s needs, such as supply chain procurement services and sales, inventory pledge financing, accounts receivable management, factoring, financial support, and leasing.

According to the “China Gold Yearbook 2021” released by the China Gold Association, China’s gold production in 2020 ranked first in the world. The total transaction volume of China’s gold market stood at about 95,500 tons, and the gold consumption reached 820.98 tons. India’s gold consumption is second only to China as the country consumed 544.6 tons of gold in 2019. The Company will mainly focus on the markets of China, India, and the surrounding regions, and plans to expand its global gold spot trading business there.

Ms. Renmei Ouyang, the Chief Executive Officer of the Company, commented, “Cooperating with JIT to enter the global gold spot trading market is of great strategic significance for the Company’s long-term development. This move enriches the Company’s commodity trading platforms, expands the scale of the platforms, and opens up a new profit growth point for the Company.”

Kinross Gold Corporation (NYSE: KGC) announced back in May its results for the first-quarter ended March 31st, 2021. Three largest producing mines – Paracatu, Kupol, and Tasiast – accounted for 60% of production and were the lowest cost mines in the portfolio. J. Paul Rollinson, President and CEO, made the following comments in relation to 2021 first-quarter results: “Our diversified portfolio of mines performed well to start the year, as we continued to mitigate the impacts of COVID-19 across all our operations and projects. The Company delivered a 51% year-over-year increase in adjusted net earnings, with margins increasing 25% to $1,031 per ounce sold, once again outpacing the increase in the average realized gold price. We are well-positioned to continue generating strong cash flow through the year, are on track to meet our annual guidance, and we are in an excellent financial position. Our three largest producing mines – Paracatu, Kupol, and Tasiast – delivered our lowest costs for the quarter, with Paracatu and Tasiast achieving record quarterly throughput. Development at our Tasiast 24k and La Coipa projects advanced well and both projects remain on schedule. Our studies at Udinsk, Manh Choh, and Lobo-Marte are all proceeding as planned.”

Sandstorm Gold Ltd. (NYSE: SANDreported back in July that the Company sold approximately 18,000 attributable gold equivalent ounces and realized preliminary revenue of USD 32.4 Million during the three months ended June 30th, 2021, both representing a record for the Company. Preliminary cost of sales, excluding depletion for the three month period was USD 4.1 Million resulting in cash operating margins1 of approximately USD 1,570 per attributable gold equivalent ounce. Sandstorm Gold Royalties is a gold royalty company that provides upfront financing to gold mining companies that are looking for capital and in return, receives the right to a percentage of the gold produced from a mine, for the life of the mine.

B2Gold Corp. (NYSE: BTG) reported last month its operational and financial results for the second quarter and first half of 2021. The Company previously released its gold production and gold revenue results for the second quarter and first half of 2021.Total gold production of 211,612 ounces (including 14,232 ounces of attributable production from Calibre Mining Corp. (“Calibre”), well above budget by 5% (10,269 ounces), and consolidated gold production of 197,380 ounces from the Company’s three operating mines, well above budget by 5% (9,787 ounces). Consolidated gold revenue of $363 million on sales of 200,071 ounces at an average price of $1,814 per ounce.

New Gold Inc. (NYSE: NGD) announced last month second quarter results for the Company as of June 30, 2021. “The second quarter saw our operations perform well, and the Company remains on track to deliver an improved second half of the year,” stated Renaud Adams, President & CEO. “I am especially proud of the free cash flow generated in the quarter even at our planned lower grade. While Rainy River experienced challenges in July, the mine has reached an inflection point and I expect it to contribute meaningful free cash flow going forward.” Total production for the quarter was 105,705 gold equivalent1 (“gold eq.”) ounces (66,989 ounces of gold, 240,029 ounces of silver and 18.2 million pounds of copper). For the six-month period ended June 30, 2021, production was 201,731 gold eq. ounces (133,639 ounces of gold, 427,253 ounces of silver and 32.0 million pounds of copper).

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