The New Gold Rush: Canada and others. Record Gold Prices & Junior Mining Exploration

 Canada is a major global gold producer, ranking fourth in the world in 2024. The Canadian Shield, in particular, is rich in gold reserves

The "new gold rush" is a Canada-wide phenomenon, driven by high gold prices and a robust geological endowment. Junior mining companies across the country are actively exploring and developing projects. Projects include but not limited to the following:

Newfoundland's New Found Gold Corp’s (Queensway Project), Galloper Gold Corp’s( Flagship Glover Island Property & Mint Pond Property), Maritime Resources Corp.( Hammerdown Gold Project), Labrador Gold Corp.( Kingsway Project)etc.


Ontario’s Onyx Gold’s (Munro-Croesus Gold project, Golden Mile, and Timmins South properties), West Red Lake Gold Mines’(Madsen Mine), Dryden Gold’s  Flagship (Gold Rock Camp). NexGold Mining Corp’s( Goliath Gold Complex) and Sky Gold Corp.’s (Consolidated Shebandowan project) etc.


Quebec’s  Troilus Gold Corp’s( Troilus Gold-Copper Project),Westhaven Gold Mines’ (Kiena project), Fury Gold Mines Limited’s(Eau Claire project), Amex Exploration Inc’s.( Perron Gold Project) etc.


British Columbia’s Tudor Gold’s (Treaty Creek Project), Brixton Metals Corporation’s( Thorn Project), Doubleview Gold’s(Hat Project), Westhaven Gold’s (Shovelnose), Goliath Resources’ (Golddigger Property), Decade Resources’(Red Cliff Property & Grassy and Premier East Properties)etc.


Yukon Territory’s Victoria Gold’s (Eagle Mine) and Snowline Gold’s (Roucana, Valley, Ridge) etc.


This list is by no means exhaustive, as the Junior mining sector is dynamic with new discoveries and financing announcements happening regularly. High gold prices are certainly providing a tailwind for many of these companies to raise capital and accelerate their exploration and development programs across Canada.

Not only in Canada, but the current high gold prices and geopolitical uncertainties are fueling increased gold mining and exploration activities globally. Many countries, including China (the largest gold producer), Australia, Russia, the United States, South Africa, Brazil, Ghana, and Peru, are actively increasing their efforts in this sector.


Central banks globally are increasing their gold reserves, further contributing to demand and price.


So, while Canada is a key player, the "new gold rush" is indeed a worldwide phenomenon.


Expert predictions for the price of gold over the next 5 years (roughly 2025-2030) generally lean bullish, with many analysts expecting significant price increases:


-2025,-Many institutional forecasts (Goldman Sachs, JP Morgan, Citi) are clustering around $2,900 - $3,700 per ounce, with some even predicting peaks above $4,000.


-2026-2027:-Predictions range from continuing the upward trend seen in 2025, with some forecasts exceeding $3,300 - $4,400. -JP Morgan has a bold call of gold surpassing $4,000 by mid-2026.


-2028-2030: -Long-term forecasts are even more ambitious, with several experts predicting gold to reach $4,000 to $7,000 per ounce, and even higher.


-2030. Charlie Morris (Atlantic House Investments) targets $7,000 by 2030.

-2030 Peter Leeds and others have even suggested $10,000 per ounce by 2030 due to factors like U.S. dollar weakening and BRICS nations building gold reserves.


Factors to Watch:

·         Central Bank Actions: The pace and extent of central bank gold purchases will be crucial.

·         Monetary Policy: Interest rate decisions by major central banks will significantly impact gold's appeal.

·         Geopolitical Developments: Any escalation or de-escalation of global tensions can quickly influence gold prices.

·         Economic Growth: A stronger-than-expected economic recovery could shift investor money back into riskier assets, potentially tempering gold demand.

·         Inflation Trends: The path of inflation will remain a key determinant of gold's role as a hedge.

 

Daily price movements can be influenced by immediate news, like interest rate speculation or trade developments, but the underlying drivers for gold's upward trajectory remains firmly in place.

While short-term fluctuations are to be expected, the fundamental factors suggest a robust and appreciating gold market in the coming years.

 SP

Comment below, share your thoughts and give it a repost.. Thx.

 “For information purposes only and not a recommendation to buy or sell shares”.

Mining News: www.minestockers.com (Disclosure: the writer is a shareholder in minestockers.com)

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