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Coronavirus relief may help gold miners strike mother lode
Gold a quintessential hedge against currency erosion: Precious metals investor
High Ridge Futures director of metals trading Dave Meger discusses the rise in gold investment amid coronavirus fears.
Gold mining shares have been left out of the rally that has lifted the precious metal this year, but that may be about to change.
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The VanEck Vectors Gold Miners Exchange-Traded Fund, which has a market capitalization of $11.24 billion, has fallen 10.14 percent in 2020, significantly lagging the 7.4 percent gain in the price of gold.
VANECK VECTORS GOLD MINERS ETF
“When I look at gold mining companies as businesses, I think that their businesses are going to boom,” Peter Schiff, CEO of Westport, Connecticut-based Euro Pacific Capital, told FOX Business, adding that the companies are “really worth the gold reserves that they have.”