Miners make hay while gold shines

Gold producers had been cutting costs and production until the coronavirus hit, which might give these consistent performers a head start

Vikram Barhat 8 April, 2020 | 1:07AM

Golden sky

Editor's note: Read the latest on how the coronavirus is rattling the markets and what you can do to navigate it.

As the stock market continues to crater among the coronavirus-induced uncertainty, investors in risk-off mode are taking refuge in gold to ride out the storm. The yellow metal  has been ripping since the virus crisis broke out sparking a steep selloff and interest rate cuts. In March, the precious metal broke through US$1,700 per ounce, the first time since 2012, regaining its status as a stable store of value amid plunging oil prices and the stock market bloodbath.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar Rating
Agnico Eagle Mines Ltd110.83 CAD2.03
Barrick Gold Corp39.60 CAD-0.28
Newmont Corp70.37 USD0.17

About Author

Vikram Barhat

Vikram Barhat  Vikram Barhat is a Toronto-based financial writer specializing in investing, stock markets, personal finance and other areas of the financial services industry. He also writes for CNBC, BBC, The Globe and Mail, and Toronto Star.

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