https://www.theglobeandmail.com/
Chastened by past missteps, the Canadian gold industry is swapping recklessness for conservatism, and eschewing expensive deal making in favour of dividends, as the price of bullion hits new all-time highs.
On Monday, gold futures traded north of US$1,940 an ounce for the first time, surpassing the previous record of US$1,920 set back in September, 2011. The most-traded August futures settled at US$1,931 an ounce.
The ultimate safe haven investment, gold over the past few months has benefited from unparalleled volatility in financial markets, as the coronavirus has spread around the world and governments attempt to stave off a global depression by injecting trillions in economic stimulus.
Historically low interest rates, a weakening U.S. dollar and renewed tensions between the United States and China have also benefited bullion. During the previous great bull market in gold that lasted from the early 2000s through to late 2011, the industry made lots of mistakes.
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