Precious Metals Continue to Offer Investors Haven Amidst Global Turmoil

NEW YORK, July 14, 2020 /PRNewswire/ — Gold and silver prices climbed higher in midday U.S. trading on Monday, with silver prices sharply up and recording an 11-month high. According to a report by Kitco News, buying interest in both precious metals continues to be fueled by lingering worrisome geopolitical elements. August gold futures were last up USD 10.60 an ounce at USD 1,812.60. September Comex silver prices were last up USD 0.662 at USD 19.715 an ounce. Gold is of course considered to be a safe-haven asset, yet the economic impacts from the current pandemic is still unclear. Recently, the World Gold Council released important data from its first-quarter 2020 demand trends report, where it indicated that the global outbreak was “the single biggest factor influencing gold demand.” In fact, many small businesses have stopped operating during this crisis with the hopes that they could resume operations after the social distancing restriction are lifted. Clarity Gold Corp. (CSE: CLAR), IAMGOLD Corporation (NYSE: IAG) (TSX: IMG), Gold Resource Corporation (NYSE: GORO), Hecla Mining Company (NYSE: HL), New Gold Inc. (NYSE: NGD) (TSX: NGD)