Barrick Gold sees slightly slower production as higher gold price drives a 143% increase in Q1 earnings

Barrick Gold sees slightly slower production as higher gold price drives a 143% increase in Q1 earnings

- Higher gold prices in the first quarter of 2024 continue to drive profits as Barrick Gold , reported slightly weaker gold production in the first quarter but said it was still on track to meet its annual target.Wall Street is optimistic about the economy, but LegalShield says Main Street is telling a different story

- Optimism regarding the health of the U.S. economy remains relatively upbeat, with many economists seeing the chance of a recession as unlikely as the U.S. labor market remains robust. - Wednesday, May 1—May bitcoin futures prices are lower again and hit a two-month low in early U.S. trading Wednesday.Gold is the cornerstone of stability as government debt rises out of control - abrdn’s Minter

- The gold market continues to see significant selling pressure as investors capitulate to the idea that the Federal Reserve will maintain its restrictive monetary policy longer than expected.The gold market is testing critical support just above $2,300 an ounce and is down more than 2% on the first day of the Federal Reserve's monetary policy meeting. Gold has lost nearly 6% after hitting a record high above $2,448 an ounce three weeks ago.

Source: News Formal (newsformal.com)

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