2019 marked the best performance for the precious metals complex in nearly a decade. Gold bullion closed the year at $1,517 (gaining 18.31% for the 12 months). Silver bullion ended the year at $17.85 (up 15.23% in 2019). Platinum climbed 21.56% in 2019, and palladium soared 54.24%. Gold mining equities showed notable strength, finishing 2019 up 43.49% as measured by Sprott Gold Miners ETF (SGDM).
Peter Grosskopf, CEO of Sprott, joins Catherine Murray, Host of BNN Bloomberg's The Close for a look at M&A activity within the Canadian gold sector. Grosskopf says that while big-name gold miners like Barrick and Newmont have gone through notable acquisitions this year, we are likely to see a significant number of junior miner acquisitions in 2020.
Gold and silver are again in an upswing, and one of the smartest ways to own the precious metals might be to purchase shares in a closed-end fund trading at a discount to its net asset value, and invested in the physical assets—not mining stocks, futures contracts or options.
Remy Blaire of The ETF Show interviews Ed Coyne, Senior Managing Director of National Sales at Sprott Asset Management, and gets Sprott's outlook for gold bullion, gold equities and how ESG impacts miners.
Peter Grosskopf: "Gold performed extremely well in the face of this year’s market jubilee, which transpired amid supportive conditions including a stable U.S. dollar and benign inflation. For twilight surfers, however, we believe gold’s role as a lifeguard has never been more important."
Sprott is involved in several ventures that seek to deliver the next generation of precious metals investing. These projects combine the benefits of digital blockchain technology and the proven advantages of investing in physical precious metals bullion.
Sprott CFO Kevin Hibbert has been awarded the distinction of Fellow by the Chartered Professional Accountants (FCPA) of Ontario. Being named an FCPA is the highest honour bestowed upon a CPA in Canada.
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Sprott to Acquire Tocqueville Gold Strategies and Team
John Hathaway and Tocqueville Gold Team to Join Sprott
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