Gold on a rollercoaster

[View this email in your browser]( [Facebook]( [Twitter]( [Forward]( [Kitco Metals]( Editor's Note: Get caught up in minutes with our speedy summary of today's must-read news stories and expert opinions that moved the precious metals and financial markets. [Sign up here]( Editor's Picks [@neils_C]( What a week for precious metals. A 1,000-point drop in the [Dow]( at the start of the week pushed gold prices to a fresh seven-year high. Things only got worse from there with the blue-chip index looking to end the week down 14%. Unfortunately, the [gold]( market was not immune to the near-panic selling in the marketplace. Heading into the weekend, gold prices are back below $1,600 an ounce. [Many analysts have said]( that the drop in gold is due to forced selling as equity investors have had to raise cash to meet margin requirements. The question is, has this freefall in gold prices impacted sentiment in the precious metals space and within the mining sector? Kitco News just returned from the exclusive [BMO Global Metals & Mining Conference]( and it appears that the mining sector has only just turned an important corner. [Colin Hamilton]( analyst at BMO Capital Markets, told Kitco News that generalist investors are once again looking at the sector as mining companies use free cash flow to reward shareholders. “Two years ago at this conference many of the gold miners were struggling to fill their schedule. Now they are booked up back to back and I think that is a testament the way the industry is changing,” he said. [Frank Holmes]( CEO and chief investment officer for U.S. Global Investors, said that the gold sector needs both a higher gold price and solid strength in equity markets to really do well. “Anyone who thinks that the coronavirus is going to be good for gold stocks is foolish,” he said. “In the great run from 2002 to 2007 there was a bull market in stocks and bull market in gold. You need both engines.” As for the latest move in gold, Kitco News will be on the front lines to gauge the sentiment at the world’s largest mining conference: the Prospectors & Developers Association of Canada (PDAC) convention in Toronto, Canada. Stay tuned next week for all our coverage from PDAC 2020. Neils [Gold producers focused on dividends; investment sentiment upbeat - BMO]( [Gold producers focused on dividends; investment sentiment upbeat - BMO]( are some of the takeaways of analysts at BMO Capital Markets following the Canadian bank’s 29th annual conference for investors and representatives of the mining industry this week. Company officials gave presentations over a three-day period. BMO analysts listed their overall assessment in a followup 102-page report issued late Wednesday. [Corvus to consider mining in addition to sale]( [Corvus to consider mining in addition to sale]( Gold is to look at the possibility of mining its gold deposits in Nevada in addition to looking for a take out, president and CEO Jeff Pontius told Kitco News at the BMO Global Metals & Mining Conference in Florida. [Why can't gold go to $10,000?]( [Why cant gold go to $10,000?]( has the potential to go much higher, as some other metal commodities have done, as zero interest rates, peak gold production and other factors provide strong tail winds for the yellow metal, Frank Holmes CEO and chief investment officer for U.S. Global Investors told Kitco News at the BMO Global Metals & Mining Conference. [Newmont to become clear gold industry leader]( [Newmont to become clear gold industry leader]( Mining aims to be the clear gold industry leader with a focus on a sustainable and stable business producing over 6 million ounces of gold for the next ten years, and a focus on leading the gold sector on the adoption of ESG initiatives, president and CEO Tom Palmer told Kitco News at the BMO Global Metals and Mining conference. [Yamana in harvest phase as it looks to boost exploration]( [Yamana in harvest phase as it looks to boost exploration]( Gold aims to sustain dividend payments through the creation of a cash reserve fund as it enters the harvest phase of its re-positioning strategy, while investing more in generative exploration, executive chairman Peter Marrone told Kitco News at the BMO Global Metals & Mining Conference. [Gold companies behaving more like regular companies]( [Gold companies behaving more like regular companies]( companies are starting to behave more like regular companies in terms of generating profits and paying dividends while still showing capital discipline, Colin Hamilton, commodities analyst at BMO told Kitco News at the BMO Global Metals & Mining Conference in Florida. [BMO 2020]( [Bullion Bracelet]( [Gold Bar]( This message was intended for {EMAIL} , as a subscriber and/or customer of Kitco. [Advertising]( | [Update Your Email Preferences]( | [Privacy Policy]( | [Contact us]( | [Unsubscribe]( All logos, brand names and/or trademarks that appear here are the property of their respective copyright holders. © 2020 Kitco Metals Inc. 620 Cathcart, Suite #900, Montreal, Quebec, H3B 1M1 Canada.