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New Found Gold Corp V.NFG

Alternate Symbol(s):  NFGC

New Found Gold Corp. is a Canada-based mineral exploration company engaged in the acquisition, exploration and evaluation of resource properties with a focus on gold properties located in Newfoundland and Labrador, Canada. The Company holds a 100% interest in the Queensway Project, which comprises a approximately 1,662 square kilometers area, located about 15 kilometers (km) west of Gander, Newfoundland and Labrador, and just 18 km from Gander International Airport. The Queensway Project is divided by Gander Lake into Queensway North and Queensway South. The Company is undertaking a 500,000-meter drill program at Queensway.


TSXV:NFG - Post by User

Post by geezer21on Sep 16, 2022 10:16am
66 Views
Post# 34966715

Gold Out Performing

Gold Out Performing

Year to date gold has been out performing every other financial asset except for 5.

Check out chart 4:

https://www.zerohedge.com/markets/here-are-best-and-worst-performing-assets-august-and-ytd

While gold has been falling in USD it has not fallen very much in Canadian dollars as the CDN has also been falling against the USD.  Canadian miners pay expenses in Canadian dollars but get their revenue in USD.

https://www.bullion-rates.com/gold/CAD/Year-1-chart.htm

The rise in the USD is a  temporary reaction to the flight from equities to the safe haven of the USD.

This will not last long as global macro conditions will smash the dollar back down as soon as the bear panic in equities has reduced equities back to reasonable valuations where participants will reenter the stock markets.

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