The prospects for the Zacks
Mining – Gold
industry seem dull owing to lackluster gold prices. The metal lost steam early this year amid vaccine rollouts and optimism over economic recovery, and is currently trading below the psychological level of $1,800 an ounce, on a stronger U.S dollar. While geopolitical tensions, the emergence of coronavirus strains, and demand in China and India might lend support, volatility remains a concern.
Nevertheless,
Barrick Gold Corporation
GOLD
,
Franco-Nevada Corporation
FNV
,
Agnico Eagle Mines Limited
AEM
, and
Yamana Gold Inc.
AUY
are well poised on their strong balance sheets and initiatives to lower costs.
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