Last updated: Tuesday September 15, 2020 KSA 19:16 – GMT 16:16
Publication date: Tuesday September 15, 2020 KSA 17:34 – GMT 14:34
Source: Dubai – Sherif Al Yamani
–
Although the Corona pandemic disrupted gold production, shares of companies producing the precious metal rose significantly during the current year.
According to AksjeBloggen data, the market value of the world’s 5 largest gold producing companies rose to $ 157.7 billion in September, jumping by 73% since the start of the year.
Realistically, the closure of the economy due to the Corona virus led to a decline in the demand for gold to the lowest level since 2009, but the price of the yellow metal rose to record levels not witnessed before, as fears of the effects of the epidemic and its effects on the economy led to an increase in the demand for investment in gold.
The increase in the market value achieved by the shares of these companies was greater than the increase in the price of gold itself. Since the beginning of the year until now, gold prices have witnessed an increase of no more than 30%, and the rate of increase since the beginning of the year reached its highest level during this year when prices reached 2069.4 dollars per ounce, which is 35.9%, compared to its price of 1523.1 at the beginning of 2020, according to Al Arabiya’s calculations. Net.
Production of the largest gold extractor companies in the world
–
Newmont is the largest gold producer, producing about 6.3 million ounces in 2019, according to Statista data.
Shares of the company, which has mines in North and South America, Asia, Australia, and Africa, rose from $ 29.39 in December 2019 to $ 35.86 in March 2020, then to $ 45 in June, and then to $ 52.81 in September, so the share witnessed a rise by a percentage. 79.7%.
The second largest producer of gold is Barrick Gold, with 5.47 million ounces of gold last year. The company’s shares rose from $ 30.97 a share in December 2019 to 51.92 in September, a rate of 67.6%.
With 3.28 million ounces of production in 2019, Angelogold Ashanti ranks third among the largest producers. Its shares rose from $ 9.46 in December to $ 11.66 this month, a rise of 23.3%.
The performance of the shares of the 5 largest gold extractors in the world
–
Polius produced 2.84 million ounces of gold last year, and it was ranked fourth among the major producers. Its share rose $ 15.26 in December 2019 to $ 30.65 this month, an increase of more than 100%.
Kinross Gold ranked fifth, after producing 2.51 ounces last year. Its share rose from 5.94 an ounce at the end of December 2019 to 10.74 dollars an ounce in 2020, achieving an increase of 80.8%.
– .
