Gold stocks set to shine in 2019 as investors flock to...

Gold stocks set to shine in 2019 as investors flock to safe-haven metal

By
Lauren Barrett
-
December 27, 2018

Exploration spend tracking upwards

With gold prices projected to track higher over the near-to-medium term, gold-focused companies will be armed with an incentive to ramp up exploration efforts.
According to the Resources and Energy Quarterly report, Australia’s gold exploration expenditure rose by 24% year-on-year (in the 2018 September quarter) to $240 million, likely driven by an expected rise in gold prices in 2019 and beyond.

Money has been returning into gold exploration in recent years.
With all indicators pointing to a buoyant gold market come 2019, Australia’s producers will waste no time ramping up production to capitalise on improved market conditions for the precious metal.
Gold miners produced nearly 80 tonnes of gold in the September period, representing a 9.8% year-on-year increase.
With more growth on the horizon driven by mine expansion and greenfield operations coming online, Australia’s gold mine production is forecast to expand 3.6% in 2018–19.
Higher export volumes and a weaker outlook for the Australian dollar and US dollar exchange rate will prove favourable for Australia’s gold export earnings which are forecast to increase by 0.4 and 3.9% in 2018–19 and 2019–20 to $19 billion and $20 billion, respectively.

Complete article url below

https://smallcaps.com.au/gold-stocks-set-to-shine-2019-investors-safe-haven-metal/