|Delayed - 01/18 11:48:20 am|
Top Three Gold Mining Companies Hit $73.8B in Combined Market Cap, a 36% YTD Increase
|11/18/2020 | 10:00am|
The Covid-19 outbreak had a significant impact on the gold mine production and mineral exchanges, causing a number of mine closures across the world due to lockdown restrictions. However, the world's largest gold mining companies witnessed an impressive growth of their market cap in 2020, despite the effects of the coronavirus pandemic.
According to data presented by AksjeBloggen.com, the combined market capitalization of
Although the coronavirus crisis knocked down global stock markets in the first quarter of 2020, shares of gold miners and funds dealing in the precious metal rallied in the second quarter as investors raced to buy gold as a safe-haven asset.
The increasing trend continued in the third quarter of the year, with their combined market cap rising to over
The Yahoo Finance data indicate the combined value of shares of
Global Demand for Investment Gold Jumped 61% YoY
Unlike stock, banknotes, or other assets, gold has managed to maintain its value through the years, preserving the investors' wealth, especially in times of turmoil in the financial markets. Although many investors value the precious metal as an important portfolio asset, the economic downturn caused by the COVID-19 pandemic led to a surge in global demand for investment gold.
Between January and March, global demand for investment gold surged by 81% YoY to 539.6 metric tons, revealed the
Statistics indicate the global demand for gold for investment purposes hit 1,617 metric tons in nine months of 2020, a 61% increase compared to the same period a year ago.
The full story can be read here: https://aksjebloggen.com/top-three-gold-mining-companies-hit-73-8b-in-combined-market-cap-a-36-ytd-increase/
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