Canadians trading, investing gold and silver after prices surge with COVID-19

  • 📰 CTVNews
  • ⏱ Reading Time:
  • 62 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 28%
  • Publisher: 99%

Canada Headlines News

Canada Latest News,Canada Headlines

Soaring gold and silver prices have lured Canadians to sell their unwanted jewelry or invest even more in the precious metals with the hope of even larger profits.

"We've been extremely busy in the last few days, especially with the prices going up the way they have been, probably the busiest we have ever been," said Aditya Nagaraj, Greater Toronto and Hamilton regional manager for Canada Gold, which buys and sells the precious metals.

Some sellers have unloaded their rings and necklaces for a little cash to help them through unemployment and tough economic times. But Nagaraj said most customers have been wealthy Toronto-area residents, especially older people, who no longer wore the many gold pieces they had accumulated. However, one of Canada's oldest jewelry brands says gold is considered to be a good investment at times of crisis when confidence is low and anxiety is high.

Investing in gold or silver can be done by holding coins or bullion, as well as buying exchange traded funds or mining company stocks such as Franco-Nevada Corp., Barrick Gold Corp. or Pan American Silver Corp. Some observers believe the price increases aren't over, with some even predicting gold could reach US$5,000 to US$10,000 an ounce in the next decade.

He points to Bank of America researchers forecasting that gold could reach US$3,000 an ounce within 18 months and Goldman Sachs pegging a price of US$2,300 within a year.Pape is skeptical, however, of forecasts for US$10,000 an ounce for gold and said a COVID-19 vaccine that allows the global economy to recover could be a setback by removing the safe haven factor from the metal.

Source: Digital Coin News (digitalcoinnews.net)

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

NESARA/ GESARA, maybe? Back to gold standard?

VeryGoodButcher 🤔🌱🇨🇦💰🙌

Well ya...cause when turdo is done the cdn dollar will be worthless....wait...it already is!!! fiatcurrancy

Ya because Trudeau will collapse our cdn dollar . That’s what this is showing

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in CA

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Ontario reports more than 100 new COVID-19 cases for second straight dayMasks not effective? How many are actually sick? Do you have those numbers? Do you even care? Shameful fear peddling Wooooooaaaaahhhh !! That’s HUGE
Source: CTVNews - 🏆 1. / 99 Read more »

Patron of Toronto strip club tests positive for COVID-19 after 550 people potentially exposedCool story bro! Anyone tracking how many people contracted Covid at BLM protests? Yeah, didn't think so... People in Ontario in general are slower then the rest of the nation. All the human garbage dumped there.
Source: CTVNews - 🏆 1. / 99 Read more »

RBC report says immigration slowdown due to COVID-19 threatens Canadian economyA report from the Royal Bank of Canada says a slowdown of immigration to the country due to the COVID-19 pandemic threatens to derail a major source of economic growth, at least temporarily. Seems immigration has also introduced machete killings in doctors offices and ieds in Ontario Lol...RBC....the 'people's bank' 🤣
Source: CTVNews - 🏆 1. / 99 Read more »

Reports: Mets-Marlins game Thursday postponed due to positive COVID-19 tests - Sportsnet.caThursday's game between the New York Mets and Miami Marlins has been postponed after two members of the Mets organization tested positive for COVID-19, according to multiple reports. Baseball is going to keep having this issue until they create a bubble like the nhl There is no way NFL will go through a full season. I hope it does but I doubt it. The virus has been mismanaged from day one. Trump has done this period
Source: Sportsnet - 🏆 57. / 59 Read more »

A person with COVID-19 may have exposed others at a bar during Sturgis motorcycle rallyA person who spent hours at a bar during the Sturgis motorcycle rally in South Dakota last week has tested positive for COVID-19. I cropdusted a few people at work today, they were exposed to something I tell ya What a surprise😠covidiots
Source: CTVNews - 🏆 1. / 99 Read more »