RY 175.21 -0.3356% SHOP 156.95 -1.084% TD 79.38 0.5192% ENB 61.46 0.8368% BN 85.95 -0.5554% TRI 231.55 0.1384% CNQ 48.135 1.9162% CP 106.345 -0.8161% CNR 153.84 -1.4604% BMO 133.61 0.0449% BNS 77.01 -3.4841% CSU 4681.4302 -2.2727% CM 89.21 -0.9328% MFC 45.15 -0.4849% ATD 82.82 -0.2529% NGT 58.47 1.8464% TRP 68.71 0.6887% SU 54.865 -0.4626% WCN 268.72 0.2238% L 187.14 1.6016%
Section1: Commodity Update:
Gold Outlook: Gold is a precious metal commonly used for investments and jewellery. Gold is among Canada's most valuable mined commodities, with a production value of $13.2 billion in 2022. Production of Gold in Canadian mines has been increasing steadily over the last decade. Production reached 204 tonnes of gold in 2022, which is 8% higher compared to the previous year and 55% higher compared to 2013. In Canada, majorly Gold mining coming from Ontario and Quebec that together accounted for 72% of gold production. The key drivers behind gold prices in 2024 are global economic uncertainties, inflation, outlook for Fed interest rate cuts and U.S. real yields. The structural bull case for gold remains intact, even as prices have risen sharply. Traditionally, a weaker U.S. dollar and lower U.S. interest rates increase the appeal of yellow metal.
Data Source: Government of Canada
Section 2: Company Overview and Fundamental Insights:
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