Moody's says AngloGold Ashanti, Gold Fields will start spewing cash as gold price rise and currency falls combine – for Anglogold it's an extra $20m a month.
The Brexit vote to leave the E.U. is bullish for gold as it creates uncertainty but the real driver for the long term gold price is currency devaluation, which is happening now globally at an unprecedented rate as most countries attempt to lessen the value of their debt.
Large scale speculators in gold futures pushed long positions to 800 tonnes last week, surpassing the previous record of August 2011 when gold hit $1,900.
As the Prosper Gold (TSXV:PGX) team gears up to explore a recently consolidated land package around Alamos Gold’s Young-Davidson mine in the Abitibi gold belt near Timmins, Ontario, they're thinking big.