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New Gold Inc T.NGD

Alternate Symbol(s):  NGD

New Gold Inc. is a Canadian intermediate gold mining company with a portfolio of two core producing assets in Canada, namely the Rainy River gold mine and the New Afton copper-gold mine. The Company also holds other Canadian-focused investments. The Company is engaged in the acquisition, exploration and development of natural resource properties. Rainy River is a gold mine located in Northwestern Ontario, Canada, approximately 65 kilometers (km) northwest of Fort Frances, Ontario. The New Afton mine is located approximately 10 km west of Kamloops, approximately 350 km northeast of Vancouver, British Columbia, Canada.


TSX:NGD - Post by User

Post by mrleaoon Dec 25, 2022 7:37am
412 Views
Post# 35191429

Gold to hit $3,000

Gold to hit $3,000

Gold to hit $3,000

Among the bank’s calls for next year, Saxo Head of Commodity Strategy Ole Hansen predicted the price of spot gold could exceed $3,000 per ounce in 2023 – around 67% higher than its current price of about $1,797 per ounce.

The report puts its forecasted surge down to three factors: “an increasing war economy mentality” that makes gold more appealing than foreign reserves, a big investment in new national security priorities, and increasing global liquidity as policymakers try to avoid debt debacles in their respective recessions.

“I would not be surprised to see commodity driven economies wanting to go to gold because of a lack of better alternatives,” Steen Jakobsen, chief investment officer at Saxo, told CNBC’s “Squawk Box Europe” on Dec. 6.

“I think gold is going to fly,” he added.

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