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Significance
Even though it has lost around 13% since that peak, gold is only down by 7% in US dollar terms in the year to date, although the dollar has risen by a record amount this year.
Impacts
Gold’s performance this year is striking compared with the fall of other assets seen as substitutes, such as cryptocurrencies.
Canada’s Kinross sold its profitable Kupol plant in Russia for half the target price; shareholder pressure may prompt such sales elsewhere.
Merger and acquisition activity is heating up: South Africa-domiciled Gold Fields is planning to buy Canada’s Yamana in a USD6.7bn deal.
Interpol has created a unit to combat links between gold mining and organised crime in South America; more such initiatives may follow.
Keywords:
International,
INT,
economy,
equities,
finance,
foreign investment,
foreign trade,
gold,
infrastructure,
investment,
metals,
Metals & mining,
Capital markets
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2022
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